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Gonzalez Helps Secure Award to Fund Economic Development Projects throughout Northeast Ohio

Washington, D.C. , September 7, 2021

Today, U.S. Representative Anthony Gonzalez (OH-16), helped secure a $50 million award in New Market Tax Credits that will go towards ten economic development projects throughout Northeast Ohio. Six of those projects reside in Summit County.

“Creating good-paying jobs and improving the quality of life for Northeast Ohioans has been a top priority of mine in Congress,” Gonzalez said. “I was pleased to see that the Development Fund of the Western Reserve has been awarded $50 million to go towards ten economic development projects in Northeast Ohio with six of those ten projects in Summit County. I thank our Northeast Ohio partners for their work in making this happen.” 

“We are very pleased and proud to be one of the recipients of this year’s NMTC awards, with a $50M allocation announced this week. For our Northeast Ohio communities, NMTC has meant better access to healthcare, quality jobs (both rural and metro), workforce development and expanded community service for thousands of people residing in distressed areas. This additional $50MM will enable continued focus, investment and impact for frequently overlooked communities and populations.” -Christopher J. Burnham, President Development Fund of the Western Reserve, Inc.

Background

Earlier this year, Gonzalez sent a letter to Treasury Secretary Janet Yellen requesting support of an application submitted by the Development Fund of the Western Reserve for allocation of New Markets Tax Credits (NMTC).

A PDF of the letter can be seen here.

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