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Akron Beacon Journal – Tax credits to help investors

A total of $20 million in New Market Tax Credits has been awarded to the Development Fund of the Western Reserve, which is affiliated with the Summit County Port Authority.

The tax credits will be offered to investors who in exchange would help fund stock or capital investments to help finance local community and economic development projects. The tax credits “could help build upon Northeast Ohio’s existing strengths while bringing new development to the region,” said U.S. Sen. Sherrod Brown, D-Lorain, who wrote a letter in support of the award of the tax credits.

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