United Bankshares Funds $12.5M Healthcare Transformation in Walton County
- United Bankshares' UBCD secured $12.5 million from NMTC to rehabilitate North Walton Doctors Hospital in Florida.
- The project will create 88 jobs and serve around 12,000 patients annually, enhancing local healthcare access.
- UBCD's commitment to community development includes various initiatives, reinforcing its role in improving living standards.
United Bankshares Secures Funding for Healthcare Transformation in Walton County
United Bankshares, through its community development initiative, UB Community Development, LLC (UBCD), has recently announced a significant achievement in improving healthcare access in rural Florida. UBCD successfully obtains a $12.5 million allocation from the New Markets Tax Credit (NMTC) program, aimed at financing the rehabilitation of the North Walton Doctors Hospital in DeFuniak Springs. This 80,000-square-foot facility is poised to transform healthcare delivery in a rapidly growing region of Walton County, addressing the critical need for quality medical services in the area.
The rehabilitation of North Walton Doctors Hospital is not just a construction project; it represents a vital commitment to the community's health and wellbeing. Once operational, the facility will offer essential services, including an emergency department, full-service operating rooms, laboratory services, and radiology departments. The hospital aims to enhance medical capabilities by providing advanced procedures such as spinal and orthopedic surgeries and total knee replacements. Alex Jones, President of UBCD, underscores the importance of this initiative, highlighting the organization's dedication to improving healthcare access and expressing gratitude for the collaborative spirit demonstrated by the North Walton team throughout the financing process.
The impact of this NMTC allocation extends beyond the mere provision of services; it is expected to significantly uplift the local economy. As North Walton Doctors Hospital prepares to reopen, the project will create 88 full-time jobs and serve approximately 12,000 patients annually, ultimately fostering a healthier community. UBCD, based in Atmore, AL, has a longstanding commitment to community improvement through various initiatives. Its expertise in NMTC transactions solidifies its position as a leading financial partner for economic and community development in Alabama and beyond, ensuring sustainable growth and improved quality of life for residents.
In addition to the healthcare project, UBCD remains engaged in various community development initiatives, including education and affordable housing projects, reinforcing its mission to enhance the living standards of the communities it serves. The successful acquisition of NMTC funding for the North Walton Doctors Hospital exemplifies UBCD's strategic focus on impactful development projects that address critical community needs.
With this robust funding and commitment to healthcare improvement, UBCD sets a precedent for future initiatives in the region, potentially inspiring other financial partners to engage in similar community-focused projects that prioritize the wellbeing of underserved populations. More information about UB Community Development and its ongoing projects can be found on their website at www.UBCommunityDevelopment.com.
