UB Community Development announces New Market Tax Credit Funding and full-time job opportunities for expansion of ALDI distribution center in Haines City, Florida.
March 15, 2019 – Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, announced today it has provided New Market Tax Credit funding to ALDI. This funding will aid in the highly anticipated distribution center expansion in Haines City, Florida.
ALDI is a leader in the grocery retailing industry and operates more than 1,800 stores in 35 states. More than 40 million customers each month benefit from the simple, streamlined approach ALDI brings to retailing. ALDI sells frequently purchased grocery and household items, primarily under its exclusive brands, which meet or exceed national name brands on taste and quality.
ALDI is also nationally recognized for its commitment to employees. Named to Forbes’ list of America’s Best Large Employers for four consecutive years, ALDI offers wages and benefits that are higher than those of other retailers in the market. The company cited access to market as a primary reason for increasing employment specifically in North Florida. The additional Haines City employment opportunities are part of the company’s aggressive growth plan to expand to 2,500 stores by the end of 2022, and add 25,000 new jobs in stores, warehouses and offices.
“As ALDI continues to grow, we’re excited to expand employment opportunities at our Haines City distribution center, and we’re proud to be an employer of choice in the state of Florida and across the U.S.,” said Matt Thon, Haines City division vice president for ALDI. “We’re committed to job growth across the country and look forward to continuing to serve our local Florida communities in the years to come.
The construction associated with the development of the project is expected to create up to 250 direct, full-time equivalent jobs.
For more information about UB Community Development, or for help with planning your next funding project, contact Wes Young, Vice President of UB Community Development at (251) 446-6195 or email wes.young@unitedbank.com.
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About United Bank
United Bank is a $650,000,000 financial institution that has enjoyed 115 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silver Hill, Spanish Fort, and Summerdale in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton, and Pace. For more information about United Bank, please visit our website at www.unitedbank.com. Member FDIC.
About UB Community Development
UB Community Development’s strong history as an experienced leverage lender in New Market 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 Capital Magnet Fund, UBCD is working with community development partners in the fields of healthcare, education, manufacturing, public works, and more. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.
