Corporate Tax Credits EndowCDCU

Register now

JACKSON, Miss. - (10/27/04) -- Six area companies have pledged toinvest $5.5 million in Enterprise Corporation of the Delta and itsHope Community CU affiliate to help fund affordable housing andcreate jobs in the economically depressed areas in the MississippiDelta under the federal government's New Markets Tax Creditsprogram. Under the tax credits program, private investors receivefederal income tax credits in exchange for investments in eligibleinstitutions, like the community development credit union. HopeCommunity CU is currently the only credit union in the countryreceiving funding under the program. The area companies investingin the company are: BankPlus, Beau Rivage Resort and Casino,Trustmark Corp., AmSouth Bancorp., Entergy Corp., and Bank of theOzarks.

For reprint and licensing requests for this article, click here.