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LAS VEGAS (AP) — Las Vegas has been authorized to give $28 million in federal tax credits through a 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 authority through the Treasury Department's New Markets Tax Credits program.
The city is the only entity in Nevada to offer tax credits 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.
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