Las Vegas, NV - November 15, 2013
of Nevada Department of Business and Industry announced today that it has
awarded tax credit authority totaling $200 million to seven Community
Development Entities (CDEs).
credit authority was issued under the Nevada New Markets Tax Credit Program
which encourages economic development in low-income and distressed communities
by making tax credits available to Community Development Entities for targeted
investments in eligible areas statewide.
authority was issued to the following entities:
Advantage Capital Partners-
Enhanced Capital Partners,
Inc.- $32 million
KHC New Markets Fund, LLC-
Development, LLC- $32 million
The Clearinghouse CDFI- $8
Urban Development Fund ,
LLC- $32 million
USBCDE, LLC- $32 million
Department will host a New Markets Tax Credit Roundtable for interested parties
on November 18from 1:00- 4:00 pm. The Roundtable will provide an overview
of the program and give local governments, Regional Development Authorities,
private industry and others an opportunity to connect with and introduce
qualified projects to the award recipients for potential funding.
About the Department of Business and Industry
The Department of Business and Industry is a cabinet level agency
in Nevada State government. Our objective is to encourage and promote the
development and growth of business and to ensure the legal operation of
business in order to protect consumers by maintaining a fair and competitive
regulatory environment. The Director’s office manages a number of programs and
initiatives to address the needs of small businesses, homeowners and consumers
including small business advocacy, bond programs, access to capital, housing
retention programs, constituent services and fraud prevention and education.