In 2013, the Allegheny Conference on Community Development launched the Strengthening Communities Partnership to engage the region’s business community to focus investment in underserved communities with real potential but in need of additional resources.
Since then, the SCP has leveraged more than $12 million through a state tax credit program — the Department of Community and Economic Development Neighborhood Assistance Program (NAP) — to help build capacity and drive revitalization in seven participating communities.
There are many other communities (and businesses) across our region and state leveraging the NAP tax credits to fund community development efforts. There could be even more.
What’s preventing them from having greater access to this critical community development funding tool? A cap on the NAP tax credit program.
The tax credits are capped at $18 million per year, which has not been raised since the program was created in 1971. In recent years, the commonwealth has received more than $50 million in requests each year, all with corporate commitments behind them, representing significant leverage on the taxpayer investment in these communities.
The good news is that there is bipartisan support in Harrisburg to expand the program. Thanks to the leadership of Sen. Wayne Fontana, D-Brookline; Rep. Mark Mustio, R-Moon; and Rep. Dom Costa, D-Stanton Heights, legislation has been introduced in the General Assembly that will raise the NAP tax credit to $25 million from $18 million per year.
The NAP tax credit program is making a big difference but could do much more if expanded. Now it’s time for our lawmakers in Harrisburg to unlock its potential and raise the cap on the program.
JENNIFER BEER
Senior Government Affairs Director
Greater Pittsburgh Chamber of Commerce
Downtown
First Published: August 26, 2016, 4:00 a.m.