Ohio awards $10 million in Ohio New Markets Tax Credits
The Ohio Department of Development (ODOD) Director Christiane Schmenk recently announced that the agency has awarded $10 million in Ohio New Markets Tax Credits “to six Ohio entities to spur economic investments of at least $25.6 million,” according to a press release from the department.
The Ohio New Markets Tax Credits program helps to “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 release said. The program was designed to leverage the Federal New Markets Tax Credit Program to attract investment into the state. For more information, including a list of the award recipients, read the press release.
