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ALICEVILLE, AL-WNC & Associates Inc. has partnered with three community development organizations to provide Westervelt Co. with $55.5 million in New Markets Tax Credit financing for construction of a $71 million alternative energy wood pellet manufacturing plant. The financing and development are taking place with an eye toward jobs creation in this region, which has a poverty rate of approximately 27% and an unemployment rate flirting with 12%.

Construction began on the plant in late October, 2011, with completion anticipated by summer, 2013. Situated on 104 acres on SH 17 and along the Tenn-Tom Waterway, the site once held the former Huyck Felt Plant, which was acquired from the Industrial Development Board of Aliceville in 2011.  Westervelt estimates the plant will initially produce 250,000 metric tons of wood pellets per year, with the ultimate production goal of 500,000 metric tons per year.

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