News / Article

Louisiana firms awarded $380 million in tax credits

Source: theadvocate.com - Nov 18, 2016

Four New Orleans entities that aid development in low-income communities have been awarded $340 million in federal New Markets Tax Credits and one Baton Rouge firm received $40 million.

The tax credits were designed to stimulate private investment and economic growth in low-income urban neighborhoods and rural communities. Those areas traditionally lack access to "patient capital" needed for businesses develop and create jobs, according to the U.S. Treasury Department's Community Development Financial Institutions Fund

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Category: General Business