UB Community Development has provided $10 million in New Markets Tax Credit financing to support development of a new cold storage and refrigerated logistics facility for PermaCold Logistics in Albertville, Alabama.
UBCD is participating in a broader $40 million NMTC financing for the project.
PermaCold plans to construct and equip a 121,270-square-foot temperature-controlled warehouse in the Albertville Industrial Park.
The facility will serve food producers, processors and distributors operating across regional supply chains in northern Alabama.
Marshall County and the surrounding region are part of a major poultry production corridor, with a large network of growers, processors and food distributors.
The new facility is expected to add cold-storage capacity close to food production and processing operations and improve efficiency across the regional supply chain.
PermaCold is a third-party cold chain logistics and temperature-controlled storage provider offering storage, blast freezing and transportation services.
The project is expected to create more than 50 permanent jobs across warehouse operations, logistics and facility maintenance.
The financing represents UBCD’s third New Markets Tax Credit project in rural Albertville.
During 2026 through the date of the announcement, UBCD had placed $57 million into six projects across the Southeast, supporting $290 million of total capital investment, creating 417 jobs and helping retain more than 1,700 positions.
KEY QUOTES:
“The $10MM of NMTC financing we provided to PermaCold Logistics falls squarely within our stated mission of supporting economic development in rural areas. Furthermore, working on agricultural focused businesses aligns with United Bank’s 120-year history of financing agriculture across the region.”
Alex Jones, President of UB Community Development
