Federal tax credit lures development in underserved areas

Federal leaders are hoping a government program with past success can help lift the United States economy out of COVID-19 hardships. About a month before leaving office, President Donald Trump authorized the largest extension of a program called “New Market Tax Credits.”

In and around Kansas City, Missouri, Enterprise Bank and Trust is one of the only local banks currently working with the US Treasury Department in the New Market Tax Credits program.

“We really do want to use these for the benefit of our community as a whole,” Adam Kilpatrick, Enterprise’s senior vice president of commercial real estate in the Kansas City region, said.

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