United Bankshares Invests $6M to Support Lee Health's New Facility in Southwest Florida
- United Bankshares secures a $6 million NMTC allocation to support Lee Health's new medical facility in Fort Myers.
- The new facility will enhance healthcare access for over 100,000 individuals annually and create 30 new jobs.
- UBCD's partnership with Lee Health reflects United Bankshares' commitment to improving community health and infrastructure.
United Bankshares Partners with Lee Health to Enhance Healthcare Access in Southwest Florida
United Bankshares, through its community development entity UB Community Development, LLC (UBCD), secures a pivotal $6 million New Markets Tax Credit (NMTC) allocation aimed at supporting Lee Health's ambitious new medical facility in Fort Myers, Florida. As one of the largest not-for-profit public health systems in the state, Lee Health serves over 2 million patients each year and operates a comprehensive network of healthcare services, including four acute care hospitals and a regional cancer center. The newly funded facility will feature an 85,000-square-foot medical laboratory and data center, designed to improve laboratory processing and testing services, thereby enhancing operational efficiency and care delivery.
The new medical facility is expected to significantly impact the local community, serving over 100,000 individuals annually and creating 30 new jobs while retaining 142 existing positions. Ben Spence, Chief Operating and Financial Officer of Lee Health, underscores the importance of this investment, stating that it will substantially strengthen their capacity to provide high-quality care. This development is particularly crucial for addressing the healthcare needs of medically underserved populations in Southwest Florida, aligning with the region's growing demand for robust healthcare services.
UBCD’s President, Alex Jones, expresses appreciation for the opportunity to partner with Lee Health, emphasizing the essential role of healthcare in community well-being, especially during uncertain times for providers. With a proven track record in NMTC transactions, UBCD is committed to fostering regional community growth through initiatives that span healthcare, education, and affordable housing. This collaboration not only highlights UBCD's dedication to enhancing community infrastructure but also reflects a broader commitment to improving access to vital services in the region.
In addition to the substantial economic and social benefits anticipated from the new facility, this partnership represents a strategic move for United Bankshares to reinforce its presence in the community development sector. UBCD's efforts are indicative of a growing trend among financial institutions to invest in community health initiatives, recognizing that improved healthcare access is vital for overall regional prosperity. With this project, UBCD continues to play a crucial role in shaping the future of healthcare delivery in Southwest Florida, ensuring that essential services remain accessible to those in need.
For further details about UBCD and its community development initiatives, visit www.UBCommunityDevelopment.com.
