From left, Anne Duncan Cooley, Grafton Regional Development Corporation (GRDC) CEO, Martha Clifford, MVSB Branch & Business Development Manager, Michelle Beaudin, GRDC Grants & Operations Manager, Brian Chalmers, GRDC Loan Officer, Kayla Champagne, MVSB Branch Services Supervisor.
We are proud to support the Coös Economic Development Corporation (CEDC) and Grafton Regional Development Corporation (GRDC) with a $10,000 tax credit purchase through the New Hampshire Community Development Finance Authority (CDFA). CEDC and GRDC will use this capacity building resource to advance a collaborative approach to increase outreach to underserved small businesses and entrepreneurs in the communities they serve.
“Thriving businesses of all sizes are vital to the success and health of our local communities, and wonderful projects like CDFA tax credits are a great way for businesses to support each other in this effort,” said Anne Duncan Cooley, GRDC CEO. “We appreciate all the community support we have received and look forward to continue helping business owners grow and thrive.”
“We are very proud to contribute to the work of CEDC and GRDC to support local entrepreneurs as they launch and grow their businesses and bring so much vibrancy and opportunity to our communities,” said Martha Clifford, MVSB Branch & Business Development Manager in Plymouth.
GRDC and CEDC are both nonprofit organizations dedicated to strengthening local businesses, growing the economy, and fostering community support networks that create jobs and build wealth within Grafton and Coös counties. Go to graftonrdc.org or coosedc.org to learn more.
CDFA tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75 percent of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows New Hampshire businesses to use their state tax dollars to support local projects that they care about. CDFA reviews many project applications each year, and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state. Visit nhcdfa.org for more information.
