New Markets Tax Credit – $3.5 billion of Community Development Entity allocations announced

Tax Insights
On April 24, 2013, $3.5 billion of New Markets Tax Credit awards were provided to 85 Community Development Entity (CDE) organizations. The funding increases the opportunity for certain businesses to work with these CDEs to obtain favorable financing for qualified expansion projects. The potential exists for expanding business to receive significant up-front cash benefits, increase cash flow, and lower operating costs. [Treasury Announces $3.5 Billion in New Markets Tax Credit Awards, Community Development Financial Institutions Fund (4/24/13)]

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