Curated News
By: NewsRamp Editorial Staff
September 26, 2024
CAHEC New Markets Awarded $50 Million in New Markets Tax Credit Allocation
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- CAHEC New Markets was awarded $50 million of NMTC allocation authority, creating an advantage for community development projects.
- The NMTC allocation will finance high-impact community facilities, improving access to education, healthcare, and essential goods and services in distressed communities.
- The NMTC allocation will create new jobs, improve access to education and healthcare, and serve over 53,000 patients annually, making the world a better place.
- CAHEC New Markets has been awarded a total of $270 million of NMTC allocation and is projected to help create over 3,000 jobs, making it an interesting and impactful project.
Impact - Why it Matters
This news highlights the positive impact of the New Markets Tax Credits program in stimulating economic and community development in low-income areas. It underscores the importance of private sector investment in creating jobs and improving access to essential services in underserved communities.
Summary
CAHEC New Markets has been awarded $50 million of New Markets Tax Credit (NMTC) allocation authority under the CY 2023 allocation round by the U.S. Department of the Treasury's CDFI Fund. This allocation will finance community facilities, create new jobs, and improve access to essential services in low-income communities. To date, CAHEC New Markets has been awarded a total of $270 million of NMTC allocation, resulting in the creation of over 3,000 jobs, 4,850 student seats, and improved access to healthcare facilities.
Source Statement
This curated news summary relied on this press release disributed by 24-7 Press Release. Read the source press release here, CAHEC New Markets Awarded $50 Million in New Markets Tax Credit Allocation
