Massachusetts allocates tax credits to community development programs

News

GREENFIELD, Mass. (WWLP) – The state is allocating $6-million in tax credits to more than 40 community development corporations, including one in Greenfield. It’s called the Community Investment Tax Credit Program.

The Franklin County Community Development Corporation is receiving just over $129,000 in tax credits. Now in its fourth year, this program allows local residents and stakeholders to work with the CDC to improve economic opportunities for low income households.

The Food Processing Center of Western Massachusetts is located next to the Franklin County CDC in Greenfield. They make jams, jellies, sauces, and other foods for small businesses. Franklin County CDC contributions are invested in equipment there.

Executive Director of the Franklin County CDC, John Wait, told 22News, “Contributors, they can see their money in action. They can come visit our projects and come eat food made in the food center. So, there is a real direct one to one relationship with our donors through this program.”

Wait said they hope to raise $250,000 for the program, about half of which would go back to donors for tax credits. Wait also noted that they’re building a cold storage facility with last year’s tax credits.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Only on WWLP.com | Digital First

More Digital First

State Police Overtime Scandal

More State Police Overtime Investigation

Trending Stories

Donate Today

WWLP Contests & Sweepstakes

Contests & Sweepstakes