The Northeastern Pennsylvania Alliance (NEPA) is hosting two (2) New Markets Tax Credit (NMTC) workshops on Tuesday, July 23rd at Wilkes University and the University of Scranton to provide a programmatic overview of NMTC and educate attendees on the eligibility, uses, and intake process of NMTC through NEPA Alliance.
The morning workshop at Wilkes University will run from 9 a.m. to 11 a.m. in the Marts Center, room 203. The afternoon workshop, located at the University of Scranton’s DeNaples Center, will run from 1 p.m. to 3 p.m. on the fourth floor, room 405.
The NMTC program is operated by the U.S. Department of Treasury and is designed to promote economic development and spur investment in low-income communities.
NMTC can be used to fund projects that are in the greatest need of financial assistance to help revitalize blighted communities. As part of these workshops, NEPA Alliance will be engaging attendees for eligible projects.
“Historically, NMTC has attracted private sector investments to low income communities to foster job growth and economic revitalization,” said Kurt Bauman, Vice President of Community & Economic Development Services. “We are excited to submit the region’s first ever NMTC application.”
NMTC provides funding that can be used for a wide variety of business and nonprofit endeavors including new construction and renovation of existing facilities. NMTC is an incentive used to fill a financial gap and encourage developers to invest in a project that doesn’t otherwise have a positive return on investment.
Steve Ursich, Vice President of Business Development Services, stated, “As an organization, we continue to identify and pursue programs that can be used to further our region’s economic prosperity. These workshops will be used to assist in developing a pipeline of eligible projects that are in need of critical funding in our region’s poorest communities.”
Registration is free and open to the public. Registration and parking information can be found at www.nepa-alliance.eventbrite.com.
These workshops have been funded by the Appalachian Regional Commission and the PNC Bank Foundation in partnership with the University of Scranton and Wilkes University Small Business Development Centers.
The NEPA Alliance, a regional community and economic development agency, serves the seven counties of Northeastern Pennsylvania including Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne.
NEPA Alliance services include Business Financing, Government Contracting Assistance, International Trade Assistance, Nonprofit Assistance, Transportation Planning, Research and Information, and Local Government Services. For more information about NEPA Alliance visit www.nepa-alliance.org or call 866-758-1929. “This institution is an equal opportunity provider and employer.”