Gwen Moore Announces Grant Funding for Economic Development
Washington, DC,
April 29, 2013
Tags:
Economy and Jobs
As a Member of Congress, I am committed to helping ensure financial opportunity transcends economic borders.
Contact: Nicole Y. Williams or Staci Cox (202) 225- 4572 Washington, DC – Recently, Congresswoman Gwen Moore (WI-4), along with the Community Development Financial Institutions (CDFI) Fund, announced the release of $140 million to support the New Markets Tax Credit Program. By providing tax credits, the New Markets Tax Credit (NMTC) Program aims to improve the economic outlook for low-income areas by creating or increasing investments in businesses and real estate operations located in underserved communities. “Since its creation in 2000 by Congress, the NMTC Program has proved to be an essential resource for low-income communities,” said Rep. Moore. “As a Member of Congress, I am committed to helping ensure financial opportunity transcends economic borders.” The following organizations will altogether receive $140 million in NMTC Program funding: First-Ring Industrial Redevelopment Enterprise, Inc., Greater Wisconsin Opportunities Fund, Inc., Milwaukee Economic Development Corporation and PNC Community Partners, Inc. “It is my hope that this grant funding will foster innovative business ideas and projects to spur economic growth in the Milwaukee area.” For more information and specific allocation amounts, please visit the CDFI Fund website. ### For “Moore” News Updates Follow Gwen Moore on Twitter @RepGwenMoore and Like Gwen Moore on Facebook
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