State agencies win tax credits; U.S. awards $300 million worth

From: The Milwaukee Journal Sentinel (Milwaukee, WI) | Date: October 18, 2007| Author: | Copyright information

More than $300 million in federal tax credits intended to spur development and create jobs in low-income areas are headed to organizations in Wisconsin.

The biggest state allotment of New Markets Tax Credits by the U.S. Treasury - $120 million worth - has been awarded to the Wisconsin Community Development Legacy Fund Inc. The fund is a nonprofit partnership formed by the Wisconsin Housing and Economic Development Authority, or WHEDA, and Milwaukee's Legacy Bancorp.

Previous tax credits have created 4,300 jobs and retained 1,700 jobs in Wisconsin, said WHEDA Executive Director Antonio Riley. ...

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