Out of the 282 entities that applied for more than $21.9 billion from the federal New Markets Tax Credits program, five Ohio groups received $145 million, The Plain Dealer and Business Courier report. The program, which "helps attract investment in underserved regions that would otherwise suffer from a lack of financing," awarded the following to Ohio organizations: the Cincinnati Development Fund received $35 million to invest in "brownfield redevelopment, nutritional access programs and educational improvement efforts"; the Kroger Community Development Entity received $20 million to help "attract investment in underserved regions"; the Cleveland Development Advisors – an arm of the Greater Cleveland Partnership – received $30 million to "shore up real estate projects in low-income pockets" of Cleveland and Cuyahoga County; the Ohio Community Development Finance Fund received $40 million to "help finance local community development projects, cultivate economic growth, and create jobs"; and the Dayton Regional New Market Fund was awarded $20 million to invest in "comprehensive neighborhood redevelopment projects." For more, read the full Plain Dealer story, the full Business Courier story, and press releases from U.S. Sen. Sherrod Brown (D-Ohio) announcing the awards for the following areas: Northeast Ohio, Dayton, Cincinnati and throughout Ohio.
Five Ohio groups receive $145 million from the New Markets Tax Credits program
