Business is on the rise. Las Vegas has been awarded $45 million in federally-funded New Market Tax Credits to promote small business in underserved and low-income communities. The U.S. Treasury Department considers this a sound plan to foster economic improvement across Southern Nevada.
The Las Vegas Community Investment Corporation (LVCIC) is managing the funds and lending them to appropriate borrowers. This continues their efforts to repair the economic damages seen in the last decade.
In 2016, the LVCIC also oversaw $55 million in credits, which was spent in improving small business and constructing a local library.