Mascoma Community Development Wins $65 Million Tax Credit to Facilitate New England Expansion

Mascoma Community Development Wins $65 Million Tax Credit to Facilitate New England Expansion

Mascoma Community Development, an entity of New England based Mascoma Bank, has received a $65 Million tax credit allocation to facilitate industrial and manufacturing expansion, along with retail and main street redevelopments in rural and minor-urban communities of New England. The award is from the New Markets Tax Credit (NMTC) authority from the U.S. Treasury’s CDFI Fund. Project developments will be focused on New Hampshire, Vermont, Maine, New York, Michigan, and Pennsylvania.

“We will use this award to provide much needed flexible financing for manufacturers needing to update deteriorating facilities and aging equipment,” said Dick Jennings, Managing Director, Mascoma Community Development.

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