$10 Million in New Markets Tax Credit Financing for a New cold Storage and Refrigerated Logistics Facility in Albertville, AL

UB Community Development’s six projects funded year to date in 2026 have supported $290 million of total capital investment.

Rhea-AI Summary

United Bancorporation of Alabama (UBAB), through subsidiary UB Community Development, provided $10 million in tax-credit financing for PermaCold Logistics’ Albertville project.

The New Markets Tax Credit financing supports construction and outfitting of a 121,270-square-foot temperature-controlled warehouse in Albertville Industrial Park, Alabama. The facility will serve food producers, processors and distributors. This is UB Community Development’s third New Markets Tax Credit project in rural Albertville. Year to date in 2026, the subsidiary has placed $57 million into six projects across the Southeast.

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• Moderate point$10 million in New Markets Tax Credit financing provided to PermaCold Logistics for its Albertville facility. 5.2% of market cap
• Moderate point$57 million placed into six Southeast projects year to date in 2026. 29% of market cap
• Minor point$290 million of total capital investment supported by those six projects.
• Minor point417 new jobs created through the projects supported year to date in 2026.
• Minor pointOver 1,700 jobs retained through the projects supported year to date in 2026.

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ATMORE, Ala., Oct. 2, 2026 /PRNewswire/ -- UB Community Development (UBCD), a community development partner of United Bank is pleased to announce its role in financing $40 million in New Markets Tax Credits (NMTC) for the development and operation of a temperature-controlled warehouse facility that will support food producers, processors, and distributors throughout regional supply chains. PermaCold Logistics, LLC is undertaking this project as demand continues to increase across the food and agricultural sector in Northern Alabama.

The project calls for the construction and outfitting of a 121,270‑square‑foot cold storage facility in the Albertville Industrial Park. Marshall County and the surrounding region sit at the center of one of Alabama's most active poultry production corridors, supporting a robust network of growers, processors, and food distributors.

By adding modern cold‑storage capacity in close proximity to major food production and processing operations, this investment will strengthen the regional food supply chain, enhance efficiency for local producers, and reinforce one of the area's most vital economic sectors.

"The $10MM of NMTC financing we provided to PermaCold Logistics falls squarely within our stated mission of supporting economic development in rural areas," said Alex Jones, President of UB Community Development. "Furthermore, working on agricultural focused businesses aligns with United Bank's 120-year history of financing agriculture across the region."

PermaCold Logistics is a third-party cold chain logistics and temperature-controlled storage provider featuring state-of-the-art facilities, blast freezing technology, and comprehensive transport services. Headquartered in Darien, Georgia, the company has locations across the country. This new project will create upwards of 50 permanent jobs in warehouse operations, logistics, and facility maintenance while expanding infrastructure that supports the regional food production and distribution network.

This project marks the third New Markets Tax Credit project that UB Community Development has helped fund in rural Albertville. In 2018, UBCD assisted a local manufacturing company with the expansion of their facility by expanding the building and acquiring additional equipment. In 2021, UBCD assisted a local manufacturer with the construction of a rail facility to provide raw material off-load capability directly from rail cars into their plant. Furthermore, United Bank has provided $7 million of financing for the construction of 224 units of affordable housing in the Sand Mountain and Marshall County region. The $31.7 million of capital UBCD and United Bank has provided highlights their unwavering commitment to improving rural areas across the Southeast.

Year to date in 2026, UB Community Development has placed $57 million of its funding into six projects across the Southeast. These investments have supported $290 million of total capital investment, created 417 new jobs and helped retain over 1,700.

About UB Community Development
Headquartered in Atmore, AL, UB Community Development's strong history and experience in New Markets Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama's premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, UBCD is working with community development partners in the fields of healthcare, education, manufacturing, public works, affordable housing and more to positively affect growth in regional communities. UB Community Development and United Bank are the two operating subsidiaries of United Bancorporation of Alabama, Inc. (QTCQX: UBAB). For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.

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SOURCE United Bancorporation of Alabama, Inc.

FAQ

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How much financing did UBAB’s subsidiary provide for PermaCold Logistics’ Albertville facility?

UB Community Development provided $10 million in New Markets Tax Credit financing for PermaCold Logistics’ cold-storage project in Albertville, Alabama. The financing supports construction and outfitting of a 121,270-square-foot temperature-controlled warehouse.