United Bankshares Funds $6 Million Healthcare Facility with Lee Health in Florida
- United Bankshares' UBCD secures $6 million from the NMTC program to fund Lee Health's new medical facility in Fort Myers.
- The new facility will enhance healthcare accessibility for over 100,000 individuals annually and create 30 new jobs.
- UBCD emphasizes community partnerships to improve local infrastructure and support essential services in underserved populations.
United Bankshares Partners in Community Health Initiative with Lee Health
United Bankshares, through its community development entity, UB Community Development, LLC (UBCD), announces a significant advancement in healthcare accessibility in Southwest Florida. UBCD successfully secures a $6 million allocation from the New Markets Tax Credit (NMTC) program aimed at funding Lee Health’s new medical facility in Fort Myers. As one of Florida’s largest not-for-profit public health systems, Lee Health addresses the healthcare needs of over 2 million patients annually through its network of facilities, including four acute care hospitals and a regional cancer center. This funding will facilitate the construction of an 85,000-square-foot medical laboratory and data center, poised to enhance Lee Health's operational efficiency and service delivery.
The new facility is projected to impact over 100,000 individuals annually, significantly bolstering Lee Health's capacity to provide essential laboratory processing and testing services. This expansion is particularly vital given the increasing demand for healthcare services in the region, especially among medically underserved populations. The project is also expected to create 30 new jobs while preserving 142 existing positions, underscoring its role in economic development alongside healthcare provision. Ben Spence, Lee Health's Chief Operating and Financial Officer, notes that this investment is instrumental in fortifying their ability to deliver high-quality care in a rapidly evolving healthcare landscape.
UBCD’s President, Alex Jones, emphasizes the importance of community partnerships in enhancing local infrastructure. He articulates gratitude for the opportunity to support such a fundamental aspect of community well-being during challenging times for healthcare providers. UBCD has established a robust reputation in NMTC transactions and remains committed to driving regional growth through initiatives that focus on healthcare, education, and affordable housing. This collaboration with Lee Health is a testament to UBCD's mission of improving community access to vital services and fostering sustainable development.
In addition to its healthcare initiatives, UBCD's continual focus on community development signifies its broader commitment to addressing the needs of various underserved populations across its operational regions. The partnership with Lee Health highlights the strategic importance of investing in healthcare infrastructure to ensure that communities can thrive, both economically and socially.
For more details on UBCD and its initiatives, visit www.UBCommunityDevelopment.com.