NY Hospital Lands $6.3M Through New Markets Tax Program

Law360, New York (November 13, 2013, 3:14 PM EST) -- Buffalo, N.Y.'s Roswell Park Cancer Institute has landed $6.3 million through the federal New Markets Tax Credit Program to build a 142,000-square-foot clinical sciences center to handle patient care and research, which it expects to pump the local economy with hundreds of new jobs, it said Tuesday.

The New Markets Tax Credit Program was designed to spur investments in low-income communities by giving investors tax credits in exchange for making equity investments into community development entities. Roswell Park, which is located in an area the U.S....
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