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Troy, AL. (August 28, 2024) Troy Bank and Trust, in partnership with South Alabama Electric Cooperative, is participating in the Growing Alabama Tax Credit program benefiting the City of Brundidge. The Growing Alabama program works to enhance public land into industrial sites for approved development projects. The improved development of these sites helps to encourage businesses to utilize the area for their industries.

The City of Brundidge submitted a grant to the State of Alabama to be a part of the Growing Alabama program. The grant submitted for the improvement of the North Industrial Park for a total of $473,275 in allowable tax credits.

“I, along with the Brundidge City Council and our citizens are honored that Troy Bank and Trust and South Alabama Electric Cooperative put their trust in us to enhance our industrial complex” said City of Brundidge Mayor Isabell Boyd.

Troy Bank and Trust and South Alabama Electric Cooperative will each invest $236,637 allowed through the grant program. The funds contributed by each entity will keep tax dollars in our communities.

Jeff Kervin, President and CEO of Troy Bank and Trust shared “As a Community Development Financial Institution (CDFI), Troy Bank and Trust is proud to partner with South Alabama Electric and The City of Brundidge to invest in the development of the North Industrial Park project. This project aligns with our mission of generating economic growth and opportunity in our communities and will allow The City of Brundidge to continue to grow and prosper. Troy Bank and Trust has enjoyed a long relationship with the City of Brundige and we look forward to continuing that relationship for decades to come.”