Colclasure Enterprises, LLC Expands Operations Boosting Local Jobs

Colclasure Enterprises, LLC Welcomes Expansion

In a promising development for local employment, Colclasure Enterprises, LLC, is gearing up to construct a state-of-the-art facility aimed at enhancing manufacturing capabilities and creating about 50 full-time jobs. This initiative is made possible through a generous funding allocation of $12 million via New Markets Tax Credits (NMTC), contributed by UBCD, a partner of United Bank.

Enhancing Manufacturing and Distribution Capabilities

Located in a revamped space within an industrial area, this new facility will focus on the production and distribution of extruded pipes, catering to both agricultural and commercial sectors. The strategic location ensures that Colclasure Enterprises and its parent company, Timewell Drainage Products, can effectively deliver their quality products to various markets throughout the Southern United States.

Community Development Commitment

Alex Jones, President of UB Community Development, emphasized the significance of this NMTC transaction, stating it aligns with their goal of fostering economic growth in underserved areas. This collaboration marks a continued effort to assist rural communities in their development efforts, particularly targeting Alabama's rural Black Belt region.

Accessible Job Training Opportunities

One of the most noteworthy aspects of this project is the commitment to employee training. The NMTC funding will facilitate comprehensive training programs, including driving courses, maintenance training for extruding equipment, and management training designed to help employees advance within the company. This approach not only creates job opportunities but also nurtures a skilled workforce within the local community.

Leadership Insights on Community Impact

Cory Colclasure, CEO of Timewell Drainage Products, expressed optimism regarding the expansion, highlighting the dual benefit of increasing operational capacity while simultaneously contributing to the economic landscape of Selma and Dallas County. The company is eager to foster community connections and provide stable jobs to residents in the region.

Broader Commitment to Quality Production

Timewell Drainage Products, with its headquarters in Illinois and additional plants across states like Iowa and Kentucky, has a reputation for producing high-quality HDPE drainage products. This new facility in Selma will play a pivotal role in maintaining the company's standards, with its products shipped widely throughout the Midwest and the Southern market.

About UB Community Development

UB Community Development operates from Atmore, AL, focusing on enhancing economic opportunities in local communities. Their extensive experience with NMTC projects positions them uniquely as Alabama's leading partner for boosting economic and community development across various sectors including healthcare, education, and affordable housing.

Frequently Asked Questions

What is the purpose of the new facility by Colclasure Enterprises, LLC?

The facility aims to manufacture and distribute extruded pipes while creating approximately 50 new jobs in the local community.

How much funding has been allocated for this project?

A total of $12 million has been allocated through New Markets Tax Credits, along with an additional $8.7 million in loans from United Bank.

What kind of training will employees receive?

Employees will undergo training in areas such as truck driving, maintenance of extruding equipment, and management skills to help foster career growth.

How does this expansion benefit the local community?

This expansion will not only provide job opportunities but also enhance workforce skills through dedicated training programs, thereby boosting the local economy.

Who are the key partners in this initiative?

The primary partners include Colclasure Enterprises, Timewell Drainage Products, UB Community Development, and United Bank.

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