ShoreBank Cascadia gets millions

ShoreBank Enterprise Cascadia receives $40 million in tax credits to spur investments.

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The U.S. Department of Treasury awarded ShoreBank Enterprise Cascadia $40 million in tax credits to support investments in low-income and developing communities.

It is the third such allocation for Shorebank in the last five years.

ShoreBank Enterprise Cascadia is one of 99 organizations receiving awards totaling $5 billion; $3.5 billion was originally authorized by Congress for the 2009 calendar year, and an additional $1.5 billion was added to the program by the Recovery Act. A total of 249 applications requesting $22.5 billion were reviewed before final selections were announced.

Read the full story at The Daily Astorian.

{biztweet}ShoreBank $40 million{/biztweet}

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