4 South Louisiana organizations get New Markets Tax Credits
BATON ROUGE - Four South Louisiana organizations have received a total of $220 million in federal New Markets Tax Credits, which they plan to invest in small businesses that create quality jobs and in projects that offer education and health care to poor people.
AMCREF Community Capital, Capital One Community Renewal Fund and Enhanced Community Development, all of New Orleans, along with Stonehenge Community Development, of Baton Rouge, were among the 76 organizations nationally to receive the tax credit allocation authority under the current round of the program.
All of the groups have received multiple allocations during the tax credit program's 15 year history.
AMCREF got the biggest share of credits this year, with a $75 million award.