Vegas gets $28M in federal tax credit program

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Updated: 6/16 10:18 am

LAS VEGAS (AP) — Las Vegas will get $28 million through a tax credit program that encourages investments in low-income communities.

Senate Majority Leader Harry Reid and Las Vegas Mayor Carolyn Goodman announced Monday that the city received the award through the Treasury Department's New Markets Tax Credits program.

The city is the only entity in Nevada to receive funds through the program this year.

The program was established in 2000 to attract private investment in distressed communities. Federal officials estimate the program has created nearly 600,000 new jobs since its inception.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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