New Markets Tax Credits Deal Done

In the latest legislative session, Arkansas lawmakers passed a measure touted as a jobs creator, the Arkansas New Markets Job Act. The bill encouraged private sector investment in small businesses, particularly in low-income regions, by providing tax credits tied to private capital investments including at existing businesses. On Tuesday (July 9), Heartland Renaissance Fund, an affiliate of The Arkansas Capital Corporation Group, said it will provide $10 million in New Markets Tax Credits to SGL Group’s Ozark, Ark. manufacturing facility.  Heartland’s investment is part of a federal new markets program, as the state’s version does not go into effect until July 15. The Heartland money will be used to replace the current operations with a new state-of-the-art graphitization process for the manufacture of graphite electrodes, which are used for the production of steel in electric arc furnaces.  SGL Group employs around 90 workers in Ozark. Read the full article from Talk Business Arkansas here: http://talkbusiness.net/2013/07/new-markets-tax-credits-deal-done/