PR Newswire
PARAMUS, N.J., April 24, 2017
PARAMUS, N.J., April 24, 2017 /PRNewswire/ -- M&T Bank has awarded $1,000,000 in funding to four organizations aimed at revitalizing New Jersey, part of the bank's ongoing commitment to the growth and development of neighborhoods across the Garden State.
The contributions were made through the Neighborhood Revitalization Tax Credit program (NRTC), a state-wide initiative offering businesses investing in the revitalization of eligible low- and moderate-income neighborhoods tax credits against various state taxes.
Four non-profit organizations throughout New Jersey were chosen by the bank's regional community banking leadership team to receive significant NRTC funding to further revitalization projects in their regions.
"We are taking another step in our ongoing investment in New Jersey by participating in the Neighborhood Revitalization Tax Credit program, which builds on our 160-year legacy of community-focused banking and corporate citizenship," said M&T Bank Area Executive Paula Mandell. "We look forward to partnering with these four exceptional organizations in their work to build strong communities as they transform neighborhoods throughout the Garden State."
"This is one of the State's most successful economic investment programs," says Staci Berger, president and CEO of the Housing and Community Development Network of New Jersey, which helped create the program in 2002. "It deploys millions of dollars into NJ's most distressed communities, bringing innovation and hope to residents. Thanks to corporate partners like M&T Bank, our nonprofit members are able to enhance the communities they serve. The Neighborhood Revitalization Tax Credit program is instrumental to boosting our economy and allows us to build a thriving New Jersey."
New Jersey organizations receiving Neighborhood Revitalization Tax Credit funding from M&T Bank include:
Community events to celebrate milestones for the organizations the bank supported through the NRTC program will take place throughout 2017.
About M&T Bank
M&T Bank Corporation (NYSE: MTB) ("M&T") is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
Member FDIC.
Equal Housing Lender
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SOURCE M&T Bank
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