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New Market Tax Credits

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GSP is funding transactions with a West Coast Capital provider who was recently awarded with a New Market Tax Credit allocation. They will invest an additional $34,000,000 on non-residential large-scale, job-creating projects in western states by year-end 2013. This Department of Treasury program is designed to provide federal tax benefits for low-income and distressed community investments. Equity investments are made in ventures that create jobs or serve the public. To date, this fund has invested in a City Hospital and culinary training school.