COLUMBUS, Ohio – Today, U.S. Sen. Sherrod Brown (D-OH) visited the construction site of The Childhood League Center’s new location and highlighted the public-private partnership that made the project possible. Financing for the new facility comes in part from federal New Markets Tax Credits (NMTC). The project has created 72 construction jobs and coordinators expect it will retain 49 current staff positions and add 18 new jobs.
“The New Markets Tax Credit facilitates these sort of public-private partnerships. This is exactly what we need to encourage — leveraging private capital to create jobs, invest in communities, and lift up our most vulnerable children,” said Brown. “I look forward to seeing what a difference The Center will continue to make in this community.”
The Childhood League Center serves children under the age of six with developmental delays or who are at-risk by providing evidence-based programs, interventions, and therapies.
Brown was joined on the tour by Ginger Young, Executive Director of The Childhood League Center, and Diana Turoff, Finance Fund President and CEO. Finance Fund provided federal and state NMTC allocation to the project.
“I am grateful to both Finance Fund and Senator Brown for believing in the mission of The Childhood League Center and understanding that investment in this project means more children and families will have access to life-changing interventions,” Ms. Young said. “This will affect our future educational systems and workforce, and we look forward to showing you the return on this investment.”
“The Childhood League Center project is very dear to all of us at Finance Fund and is a great example of what New Markets is all about — providing needed services to highly-distressed communities, creating jobs and incentivizing private investment in hard-to-fund-projects,” said Ms. Turoff. “We thank Senator Brown for his ongoing support of the New Markets Tax Credit program and this highly impactful project.”
Brown has been a strong supporter of NMTC, which incentivizes investments in low-income communities. In December 2015, Brown helped secure a five-year extension of NMTC in the year-end tax bill.