MVSB recently purchased $25,000 in tax credits from Belknap Economic Develop Council (Belknap EDC) through the NH Community Development Finance Authority’s Community Development Investment Program, commonly referred to as CDFA’s tax credit program. Belknap EDC is awarded $25,000 in tax credits each year and uses them to raise funds for its strategic initiatives, which are concentrated in three areas: 1) retaining and attracting young talent; 2) supporting creative entrepreneurs; and 3) enhancing workforce development programs.
“Building a resilient community with a 21st century workforce is critical to our region’s future,” said Bob Sargeant, Senior Vice President / Commercial Lending Officer at MVSB and current Treasurer of Belknap EDC. “Belknap EDC’s focus on ensuring we have a talented workforce here in the Lakes Region is extremely valuable – it benefits our entire business community and helps provide better economic opportunities for our residents.”
Contributions made through the Community Development Investment Program (CDIP) allow businesses to make a significant impact in the community by channeling tax dollars they might otherwise pay to the State’s general fund, to building economic capacity within the communities the business serves.
Belknap Economic Development Council was established in 1992 to provide economic development services and business development assistance to municipalities and existing, new, and prospective businesses within the eleven municipalities that comprise Belknap County. Belknap EDC works to foster a business and community climate that promotes a balance of quality employment and economic opportunities. For more information about Belknap EDC’s strategic initiatives, go to www.BelknapEDC.org.
Photo Caption: Carmen Lorentz, Executive Director of the Belknap EDC (center), Cindy Hemeon-Plessner, VP/Marketing Officer for MVSB (left) and Bob Sargeant, SVP/Commercial Loan Officer for MVSB (right).