Newly Created Madison County, Florida Industrial Park to See Major Development Through a New Markets Tax Credit Investment

MADISON, Fla., Feb. 4, 2026 /PRNewswire/ -- UB Community Development (UBCD), a community development partner of United Bank, is proud to announce its role in financing a $35 million facility for BioActive Forages in Madison County, Florida utilizing a $9 million New Markets Tax Credit (NMTC) allocation. BioActive Forages is constructing its first facility to produce superior feed pellets for equestrian and ruminant animals. The 57,000-square-foot plant will focus on the pelletization of three legume products: alfalfa, perennial peanut and sericea lespedeza.

BioActive Forages is the brainchild of R. Greg Stewart, DVM, MS, PhD and represents the culmination of nearly 40 years of Greg's educational endeavors, entrepreneurial experience and passion. Now partnering with Aaron Nowak, who has over 15 years of finance sector experience, Greg is making his vision a reality. The two principals have complimentary backgrounds positioning BioActive Forages for success.

"Creating quality jobs in a rural Florida community and supporting the agriculture community is a win-win," stated Alex Jones, President of UB Community Development. "UBCD and United Bank have a 120-year history of supporting rural communities and agriculture. Utilizing our NMTC allocation just further cements this endeavor!"

BioActive Forages will be the first producer of alfalfa pellets in the Southeast United States. The products help address several problems that exist in the feed industry today: Farmland rejuvenation, improved farmer economics, healthier livestock, and maintaining grass fed designations. The project will create 62 new permanent full-time jobs and will offer job training to its employees in conjunction with area universities, community colleges and workforce development agencies.

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. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.

SOURCE United Bank Community Development