DADEVILLE POLE COMPANY
(ZIEBACH & WEBB TIMBER CO, INC.)
Industry: Wood Product Manufacturing
Total Project Costs - $9,336,800
PBCIF NMTC Allocation - $7,500,000
Closing Date - 12/29/2021
PB Community Impact Fund provided $7.5 million of New Market Tax Credit allocation to Ziebach & Webb Timber Co., Inc., (the “Sponsor”) to finance the construction and equipping of a new 37,400 square foot utility pole manufacturing facility in the William Thweatt Industrial Park in Dadeville, AL. The new facility produces and distributes power poles, pilings, and related products for utility suppliers throughout the Southeast US and beyond.
The Sponsor is a three-generation family owned company that was founded in Alabama in 1979. As a small family-owned company faced with rising construction and equipment costs, the capital outlay necessary to fully fund the project was beyond what was financially feasible for the Sponsor. PB Community Impact Fund’s $7.5 million allocation of New Market Tax Credits bridged this gap and provided the upfront capital necessary for the project to move forward immediately.
According to the Project Sponsor, the facility helps to support other businesses in the distressed rural area by sourcing the majority of its logs from non-industrial local private landowners, independent foresters, and loggers. The Sponsor estimates that independent logging contractors associated with the Project consist of approximately 20 employees and approximately 15 contract trucking employees.
To achieve its hiring needs, the Sponsor is working with a local community college to recruit students coming out of training programs as well as workforce development organizations such as the Career Center; CO-OP Coordinator, Student Placement; 4-H Youth Development; Extension Services, and the Lake Martin Industrial Development Board.
Moreover, the Project has received numerous support from local community stakeholders and officials as noted below:
Mayor Wayne Smith: “These [jobs from the Project] are exactly the types of jobs that we want to see in Dadeville, and I am thrilled to welcome Dadeville Pole to the area.”
Lake Martin Area Economic Development Alliance Executive Director Chad Odom: “We are excited to add Dadeville Pole to our industrial base and look forward to a long-term partnership ensuring their success, this announcement is not only a great opportunity for job expansion in our area, but also demonstrates that the Thweatt Industrial Park was and is a wise investment for the City of Dadeville and Tallapoosa County.”
Poverty Rate: 23.70%
12 Jobs Created and Retained
100% Living Wage Jobs (Average Wage of $23.67 Per Hour)
75% of Jobs Available to Persons With a High School Degree or Less
34 Construction Jobs
70% Available to Persons With a High School Degree or Less
100% Living Wage Jos (Average Wage of $28.66 Per Hour)
50% of the jobs filled by persons living within Tallapoosa County, AL.