Cinnaire was awarded a $60 million New Markets Tax Credit (NMTC) allocation from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). These tax credits incentivize private sector investors to partner in community financing efforts. Cinnaire plans to focus the allocation of the award to fund projects that support education, vocational training and job opportunities across its footprint. Since 2009, Cinnaire has been a ten-time recipient of this federal allocation with awards totaling more than $534 million.
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