Bremer Bank recently hosted the CEDC Business Expansion And Retention (BEAR) lunch and learn. These BEAR events are part of the CEDC’s existing business assistance program aimed at helping entrepreneurs gather for engaging discussions, listen to insightful speakers, enjoy lunches from local businesses while discussing ideas which help unleash their growth potential.
Brad Shultz, Regional President and Paul Keprios Relationship Manager/Vice President of Bremer Bank welcomed and introduced Vassil Zanev
Bremer’s Senior Vice President/Capital Markets Director Vassil Zanev to explain New Market Tax Credits to the group. The New Markets Tax Credit (NMTC) program is a powerful tool aimed at revitalizing economically distressed communities across the United States. By incentivizing private investment, it drives growth, creates jobs, and fosters community development in the region. Established by Congress in 2000 as part of the Community Renewal Tax Relief Act. Its primary goal is to attract capital to low-income areas that face economic challenges. Investors receive a tax credit for equity investments in Community Development Entities (CDEs). These CDEs then use the capital to fund projects in low-income communities, revitalizing struggling neighborhoods. NMTC has been successful in generating private investment, creating jobs, and supporting economic growth.
The BEAR Lunch and Learns are a connecting event that isn’t just about exchanging business cards; it’s about building meaningful relationships that can shape our local businesses growth journey!