FOR IMMEDIATE RELEASE
August 26, 2020

For more information please contact:
Zenagui Brahim
President, NH MEP
603-226-3200
zenaguib@nhmep.org

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. “It will also provide main street retailers and commercial businesses access to private investments to boost rural economies and help revitalize severely distressed communities. NMTCs have proven to be one of the most effective tools to make projects successful, to help achieve our mission, and to improve communities across our region. We are so pleased that the CDFI Fund has continued to be supportive of these efforts.”

Mascoma Bank also works with the Small Business Administration to facilitate the Paycheck Protection Program, part of the federally funded CARES Act.  

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About NH MEP

New Hampshire Manufacturing Extension Partnership
172 Pembroke Road
Concord, NH  03301

Phone: 603-226-3200

The New Hampshire Manufacturing Extension Partnership does not discriminate on the basis of race, color, creed, national or ethnic origin, gender, disability, age, political affiliation or belief. This nondiscrimination policy encompasses the operation of all educational and training programs and activities. It also encompasses the employment of personnel and contracting for goods and services.

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