CRF in the news

January 29, 2014

New Markets Tax Credit Financing Creates New Jobs and New Hope for South Carolina Community

Continental Tire Plant Grand Opening Reaffirms Vital Role of the NMTC in Revitalizing Distressed Communities and Underscores the President's Call for Tax Extenders

Washington, D.C. - Yesterday was all about "Rolling Forward" in Sumter, South Carolina with the grand opening of the million-plus square foot Continental Tire manufacturing facility. Governor Nikki Haley was in attendance for the much-anticipated ribbon-cutting. The new plant, which was financed in part through the New Markets Tax Credit, will bring 1,600 new full-time, permanent jobs to the economically depressed community of 40,500.

"New Markets Tax Credit financing made this project feasible for Continental Tire, thanks to the modest incentive the Credit provides for projects and investments in economically distressed communities," said Bob Rapoza, spokesman for the New Markets Tax Credit Coalition. "The opening of the Sumter Plant represents a huge step forward, not only for this community, but also for the state of South Carolina and the United States."


Posted by: CRFUSA


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