[StBernard] Baker praises announcement of New Markets Tax Credits awards---

[Westley Annis]

Baker praises announcement of New Markets Tax Credits awards---

$400 million in credits designated for GO Zone

WASHINGTON – U.S. Rep. Richard Baker, R-Baton Rouge, issued the following statement today in response to U.S. Treasury Deputy Secretary Robert Kimmitt’s announcement in New Orleans that $3.9 billion in New Market Tax Credits have been awarded to spur economic development in rural and low income areas nationwide. Of the total amount, $400 million in New Markets Tax Credits has been set aside to support revitalization and recovery in the GO Zone.  

“Today’s announcement of a new round of New Markets Tax Credits demonstrates a continued commitment to revitalization of the Gulf Coast and Louisiana. The New Markets Tax Credit program is a proven vehicle to drive private capital and investment into our local economy, and the announcement that $400 million in tax credits have been targeted to the GO Zone is particularly encouraging.”

“I am very pleased that Secretary Kimmitt chose New Orleans and the National World War II Museum to make this historic announcement.”

“By attracting investment and creating new jobs we can make sure that our economy continues to rebound, providing opportunities for people right here at home.”

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