MONTGOMERY— A $100,000 grant awarded by Gov. Kay Ivey will help a fledging Hanceville company continue to grow and employ more people.
Community Development Block Grant funds will help provide infrastructure needed for DB Technologies to relocate to an existing building where it will hire 10 additional employees. DB Technologies produces high-strength fiber materials that are used in the automotive and oil and gas markets as well as by the military.
The company, started in 2019, has been housed in incubator facilities at nearby Wallace State Community College.
“It is always exciting when Alabama’s home-grown companies prosper and grow,” Gov. Ivey said. “I congratulate DB Technologies on their success, and I commend local officials in Hanceville and Cullman County for assisting this company in its growth.”
CDBG funds will be used to provide sewer services to the new location of DB Technologies on Alabama Highway 9.
The Alabama Department of Economic and Community Affairs is administering the grant from funds made available by the U.S. Department of Housing and Urban Development.
“Gov. Ivey is supportive of small companies that persist in their product and employee growth,” ADECA Director Kenneth Boswell said. “ADECA is pleased to be a partner in this project.”
Gov. Ivey notified Mayor Jim Kenneth Nail that the grant had been approved. Hanceville is supplying a local match of $20,000.
ADECA administers an array of programs supporting law enforcement and traffic safety, economic development, energy conservation, water resource management and recreation development.
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