{"database": "press", "table": "releases", "rows": [["https://pappas.house.gov/media/press-releases/nh-delegation-welcomes-60-million-in-tax-credits-for-community-development-to-support-small-businesses-and-spur-economic-growth", "NH Delegation Welcomes $60 Million in Tax Credits for Community Development to Support Small Businesses and Spur Economic Growth", "2024-09-24", "2024", "2024-09", "Democrat", "House", "NH", "Chris Pappas", "P000614", "pappas.house.gov", "pappas", "https://pappas.house.gov/media/press-releases", "scraper", "Today the New Hampshire delegation announced that Mascoma Community Development, a wholly-owned subsidiary of Mascoma Bank of Lebanon, was awarded $60 million in New Markets Tax Credits (NMTC) to incentivize development in underserved communities.\n\n\u201cInvestments into our communities and small businesses are helping develop local economies, create more good-paying jobs, and strengthen our quality of life,\u201d said Congressman Pappas. \u201cThese funds will incentivize economic development in New Hampshire\u2019s underserved communities to ensure no city or town is left behind. I\u2019ll continue to advocate for programs that help our state, small businesses, and communities grow and thrive.\u201d\n\n\u201cUnderserved communities and small businesses often struggle to get the capital they need to grow, which is why this investment is key to the overall economic success of our state. I\u2019m glad to see this award going to Mascoma Community Development to help ensure small businesses and entrepreneurs working to develop these communities have the resources they need to succeed,\u201d said Senator Shaheen. \u201cI look forward to continuing to support programs that provide development opportunities, create jobs and grow our economy in communities across New Hampshire.\u201d\n\n\u201cInvesting in Granite State businesses and ensuring that they have access to the capital that they need is a key way to help our local economy thrive,\u201d said Senator Hassan. \u201cThis federal funding will promote development and growth in the Upper Valley and throughout New Hampshire, and I will keep supporting programs that help create jobs and invest in our state.\u201d\n\n\u201cSmall businesses and local entrepreneurs are the backbone of New Hampshire\u2019s economy and way of life,\u201d said Congresswoman Kuster. \u201cThese resources heading to Mascoma Community Development will go a long way toward uplifting our Main Street businesses and the communities they serve, and I look forward to seeing the benefit the New Market Tax Credit program continues to have on New Hampshire\u2019s economic growth.\u201d\n\nThis award is provided by the U.S. Department of Treasury\u2019s Community Development Financial Institutions Fund (CDFI Fund), which promotes development in low-income urban and rural communities by investing in mission-driven financial institutions. Tax credit allocations awarded to Community Development Entities (CDE), such as Mascoma Community Development, enable CDEs to raise additional capital to invest in low income and distressed communities in return for tax credits. The total tax credit provided to investors equals 39 percent of the original investment and is spread over a seven-year period.", 1, "2026-03-30T01:40:41Z", "2026-04-07T21:43:57Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://pappas.house.gov/media/press-releases/nh-delegation-welcomes-60-million-in-tax-credits-for-community-development-to-support-small-businesses-and-spur-economic-growth"], "units": {}, "query_ms": 1.6482071951031685, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}