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Horizon Blue Cross Blue Shield of New Jersey to Invest $985,000 in Neighborhood Revitalization Tax Credits
Date:7/17/2014

Newark, NJ (PRWEB) July 17, 2014

Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ) today announced that it is investing nearly $1 million in seven urban community development projects through the New Jersey Department of Community Affairs’ (DCA) Neighborhood Revitalization Tax Credit (NRTC) program. The supported projects will assist with the economic revitalization of Newark, Jersey City and Camden.

“Horizon has been New Jersey’s leading health insurance company for more than 80 years, and we are committed to giving back to the communities we serve throughout the state,” said Robert A. Marino, Chairman and CEO of Horizon BCBSNJ. “The NRTC program allows Horizon to invest in projects that will help revitalize three of New Jersey’s major cities.”

The NRTC program is designed to foster the revitalization of New Jersey's distressed neighborhoods. Program funds are used by neighborhood-based non-profit organizations that have prepared, submitted and received approval from the DCA for a revitalization plan for the neighborhood it serves. The funds must be used by the eligible organizations for projects and activities that will implement the goals and strategies of an approved neighborhood plan.

“We’re grateful to Horizon for its generous investments to the NRTC program,” said Richard E. Constable III, Esq., DCA Commissioner. “This year’s projects will provide affordable homes for those in need, support local teens and seniors, and help to keep our neighborhoods safe.”

Horizon BCBSNJ is investing in the following projects through the NRTC program:

Newark

Unified Vailsburg Services: UVSO Service Campus Phase III
The Unified Vailsburg Services program will receive $250,000 to provide support in the Vailsburg neighborhood of Newark. The goal of this project is to aid in the rehabilitation of three mixed use commercial buildings which currently house the organizatio
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