DevelopOhio

This week, the Ohio Development Services Agency (DSA) announced the four recipients of the fourth round of Ohio New Market Tax Credits (NMTC), which totaled $10 million, an agency press release announced. The NMTC program helps finance business investments in low-income communities by providing investors with state tax credits in exchange for delivering below-market-rate investment options to Ohio businesses. The following entities are fourth-round recipients:

• Cincinnati Development Fund, which finances affordable housing development and community revitalization, will receive $3 million in tax credits for a minimum of $7.6 million in investments.
• Dayton Region New Market Fund, LLC, which helps spur business development in low-income communities, will receive $3 million in tax credits for a minimum of $7.6 million in investments.
• Development Fund of the Western Reserve, which enables investments that target low-income communities, will receive $2 million in tax credits for a minimum of $5.1 million in investments.
• Finance Fund, which helps low-income communities realize economic development goals by connecting them with public and private sources of capital, will receive $2 million in tax credits for a minimum of $5.1 million in investments.