Central New Hampshire Focus, Statewide Reach!
The Capital Regional Development Council and its partners provide creative
small business financing solutions, not just products.
New Market Tax Credits
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"“As a business owner, I’m taking a risk – that’s part of being in business.”
Ireland native, and owner of Irish Electric, Darragh Madden left his homeland eleven years ago and moved to…"
Capital Regional Development Council, the largest of New Hampshire’s ten recognized regional development corporations, has partnered with Coastal Enterprises, Inc. (CEI) of Portland, Maine to market and package New Market Tax Credit (NMTC) projects in New Hampshire. Established to attract capital to historically underserved projects and communities, the NMTC provides an incentive to debt and equity investors by offering a 39 percent federal income tax credit over seven years. Eligibility requires individuals or corporate entities to invest capital into qualified projects in eligible areas. To identify and structure suitable projects, CEI has selected CRDC as its sole New Hampshire partner.
CRDC has partnered with CEI on four New Market Tax Credit Projects since 2007 totaling $41.6 million in new investment.
Plymouth: Mid State Health Center: $3.7 million project owned and developed by CRDC to construct a 19,500 s.f. office building to house a health center in a medically underserved community.
Plymouth: Speare Memorial Hospital Medical Office Building: $9.4 million project with tax credits deployed to assist with the financing of a 31,654 s.f. facility.
Claremont: Claremont Mills: $18.5 million rehabilitation of a historic six story mill building on the Sugar River to house Red River Computers, The Common Man Inn, and several floors of office space.
Concord: Marriot Residence Inn: $10 million, 92 room, 68,000 s.f hotel.
For more details, please contact Stephen Heavener
at 603-369-6000 or sheavener@crdc-nh.com.