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Alaska Growth Capital expands.

Alaska Growth Capital BIDCO was selected to receive $50 million in tax credits under the New Market Tax Credit Program to provide funding for communities in Alaska and Hawaii. Alaska Growth Capital is a subsidiary of Arctic Slope Regional Corp. AGC, in partnership with Council for Native Hawaiian Advancement, was awarded the funds to also develop Native Hawaiian trust lands, and to expand its services to finance real estate projects with high community impacts. AGC will provide funding for similar projects in Montana. New Market Tax Program is a program administered by the U.S. Department of Treasury, and allocated through the Treasury Department's Community Development Financial Institutions Fund. AGC is one of 99 organizations selected to receive a total of $5 billion under the American Recovery and Reinvestment act of 2009.
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Author:Pounds, Nancy
Publication:Alaska Business Monthly
Date:Jan 1, 2010
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