 Commerce and economic growth increased in Montevallo after the establishment of the college, which was renamed Alabama College in 1919, started admitting men in 1956 and started admitting African Americans in 1968 and became the modern liberal arts University of Montevallo.The university became the main source of commerce in Montevallo and money generated by it was used by the municipal government to build schools.The university also allowed the community some stability during the Great Depression.