JTM Rapid Boards: Fwd: CDFI Fund Update: Treasury Department Posts Blog on NMTC Program

Wednesday, June 18, 2014

Fwd: CDFI Fund Update: Treasury Department Posts Blog on NMTC Program

---------- Forwarded message ----------
From: CDFI Fund, US Department of the Treasury <cdfifund@service.govdelivery.com>
Date: Wed, Jun 18, 2014 at 7:09 AM
Subject: CDFI Fund Update: Treasury Department Posts Blog on NMTC Program
To: iammejtm@gmail.com

Community Development Financial Institutions Fund

President Obama Highlights Manufacturing Investments in Local Communities

By Jessica Milano
This was originally published on the Treasury Department blog on Tuesday, June 17, 2014.

President Obama paid a visit today to TechShop Pittsburgh, one of eight workshops nationwide that provides affordable access to world class manufacturing tools, computers, and software to create and design prototypes for high-tech inventions, computer accessories, and quality crafts. During the President's visit, he noted that communities are stepping up efforts to support entrepreneurship in manufacturing and expand access to locations that can provide new manufacturing opportunities. In support of the actions outlined by the President, the Treasury Department's New Markets Tax Credit Program is providing local community development entities with tax credits that they can use to finance manufacturing, as well as other economic development projects, in low-income communities.

TechShop is located in Bakery Square, a mixed-use real estate development comprised of six buildings, the center piece being the former Nabisco bakery building. Thanks to support from the Treasury Department's New Markets Tax Credit Program, Bakery Square is now a bustling center of commerce in Pittsburgh. It now provides 250,000 square feet of renovated space that houses 17 businesses, a 110-room hotel, and a parking garage. Investments in Bakery Square were made possible in part by $13 million in New Markets Tax Credits from the Commonwealth Cornerstone Group, a community development entity which received $33 million in federal tax credits in the latest round of the New Markets Tax Credit Program from the Treasury Department. To continue these efforts in underserved communities throughout the nation, the President called for a permanent extension of the New Markets Tax Credit Program in the Administration's fiscal year 2015 budget proposal.

Since its inception, the Treasury Department's New Markets Tax Credit Program has provided investors with tax credits to support investments in low-income and underserved communities through community development entities, including more than 200 manufacturing projects. Through the life of the program, the Treasury Department has awarded $40 billion in tax credits including $3.5 billion in its latest round, awarded earlier this month. These tax credits support investments in rural and urban areas in nearly every state in the country and the District of Columbia. For every $1 invested by the federal government, the New Markets Tax Credit generates over $8 of private investment.

The President's remarks today highlighting the success of manufacturing businesses like TechShop and development projects like Bakery Square demonstrate the importance of extending federal tax incentives, like those offered through the New Markets Tax Credit program, to spur economic development and jobs in the communities most in need of those investments.

The New Markets Tax Credit Program is administered through Treasury's Community Development Financial Institutions Fund and more information is available at www.cdfifund.gov/.

Jessica Milano is Deputy Assistant Secretary for Small Business, Community Development, and Housing at the United States Department of the Treasury.

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--
Jeremy Tobias Matthews

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A4 Description

Overall This One Is Shaped Like An Otter However This One Does Have A Tendency To Get Caught In A Dive If The Rider's Weight Is Not Kept On The Back End To Prevent The Current From Taking The Nose To The Bottom So The Rider Must Adjust When Caught In a Dive. Don't Just Let It Go. You Will Just Have To swim To The bottom To Get It Anyway. You Might As Well Adjust Right Then And There And Put Weight On The Back End Of The Board While Your Exploring Underneath The River. It Does Have A Split Tail On The Rear Which Makes For Nice Rail To Rail Banking. It Also Has The Inverted Center So You Can Carry It Under Your Arm Like A SurfBoard With The Same Length As A3.

A5 Description

One Of The Things I Love About This Shape Is The Diversity Of Tricks It Allows. A Skilled Rider Can Do Any Trick On Any Shape Granted, But Some Tricks As A Shaper Has A Certain Shape In Mind, Just Work Better For Those Tricks. That Is Why A Good Shaper Rides The Boards They Make And Visualizes The Moves They Will Do Within The Movement And Bodily Timing With The Rapids Before They Make The Shape They Ride And So This Is The One That This Rider Can Do The Most Tricks Under The Water, On The Water And Above The Water With To Begin With, And Then Once The Tricks Are Mastered They Can Be Done On Any Board. Some Boards Will Work Better For Different Body Types So Knowing Your Own Body Is The first Step And Knowing The Tricks And Spot Come Next. Trust Yourself You Will Always Do That The Best.

Wednesday, June 18, 2014

Fwd: CDFI Fund Update: Treasury Department Posts Blog on NMTC Program

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