UB Community Development, LLC invests $10 million in new markets tax credit financing to support upgrade of American Cast Iron Pipe Company manufacturing operations in Birmingham, AL

BIRMINGHAM, Ala., June 25, 2026 /PRNewswire/ -- UB Community Development (UBCD), a community development partner of United Bank, is pleased to announce its role in financing $10 million in New Markets Tax Credits (NMTC) to modernize furnaces at the American Cast Iron Pipe Company (ACIPCO) manufacturing plant in Birmingham, AL.

The $285 million improvement project will create 80-100 full-time jobs and retain an additional 1,775 positions at the facility, bringing greater economic opportunity to the local and surrounding communities through high-quality, high-paying jobs.

"From our first introduction to ACIPCO and learning about their impact on the community, we knew this was an important project for the region," said Alex Jones, President of UB community Development. "ACIPCO's commitment to their employees and the community is a perfect alignment with UBCD's mission of advancing community well-being."

American Cast Iron Pipe Company, founded in 1905 and employee-owned since 1924, is one of the nation's largest manufacturers of ductile iron pipe, spiral-welded steel pipe, fire hydrants and valves for the waterworks industry, and high-frequency-welded steel pipe for the energy industry. The improvements will transition the company from an older single cupola furnace to four electric coreless induction furnaces, resulting in a 25% increase in melting capacity and at least 50% reduction in greenhouse gas emissions.

This investment is designed to ensure economic viability for future generations of families in the local community and across the area.

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 Bancorporation of Alabama, Inc.