New Markets Development Program Brings Renovations, Equipment to Bastrop, Louisian... (capital since 1992 and invested in compa...)

New Markets Development Program Brings Renovations, Equipment to Bastrop, Louisiana Hospital

Date:1/8/2009

capital since 1992 and invested in companies located in geographic areas underserved by traditional venture capital.

About the federal New Markets Tax Credit program

The federal New Markets Tax Credit program, administered by the U.S. Department of the Treasury, encourages private-sector investment in economically distressed communities through tax incentives. In a highly competitive allocation procedure, the Treasury Department awards the tax credits based on applications submitted for each tax year. Advantage has participated in the New Markets program since 2003, raising private capital for investment in low-income communities. These investments have spurred economic growth through innovative business ventures and job creation across the United States.

About the Louisiana New Markets Development program

The Louisiana New Markets Development program encourages investment in promising small businesses located in distressed communities throughout the state and particularly those communities in the GO Zone still recovering from the devastation of the hurricanes of 2005. The program enables up to $400 million of capital investment in Louisiana's small businesses. The state program attracts investment in low-income communities through a state tax credit modeled after the federal New Markets Tax Credit. The goal of the program is to attract large, long-term investors to Louisiana's low-income communities, promoting new expansion, creating new job opportunities and building on existing growth in the state.

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New Markets Development Program Brings Renovations, Equipment to Bastrop, Louisian...(capital since 1992 and invested in compa...),Health