'Funding Drought' Declared Over for Economic Development in Cincinnati

A year after Ohio community development groups received $0 in New Market Tax Credits for the first time ever, the Cincinnati Center City Development Corp. is ready to declare the end of the funding drought.

1 minute read

June 17, 2015, 8:00 AM PDT

By James Brasuell @CasualBrasuell

"Two Cincinnati economic development agencies have received federal tax credits totaling more than $87 million," reports Tom Demoropolis.

"Cincinnati Development Fund and Cincinnati New Markets Fund, the private equity fund operated by Cincinnati Center City Development Corp. (3CDC), were awarded $42.35 million and $45 million, respectively, through the U.S. Treasury Department’s Community Financial Development Institution’s New Market Tax Credit program."

Last year, the state of Ohio received no New Markets Tax Credits for the first time ever. What a difference a year makes.

FULL STORY: 3CDC official: Funding 'drought' is over

Monday, June 15, 2015 in Cincinnati Business Courier

Community / Economic Development Ohio Cincinnati New Market Tax Credits Cincinnati Center City Development Corp.

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