Community development tax credits help Kidworks improve accessibility

MEREDITH — Meredith Village Savings Bank is proud to support Kidworks Learning Center through the purchase of $25,000 in New Hampshire Community Development Finance Authority tax credits.

The funding will help the nonprofit childcare center complete critical facility improvements that will expand access to quality, affordable childcare for families throughout the Lakes Region.

Kidworks Learning Center will use the tax credit funding to install a new exterior foundation drainage system and ADA-accessible ramp to address critical health and safety concerns impacting its ability to serve children and families. The upgrades will improve the center's sustainability, create eight additional childcare spaces, and increase preschool enrollment.

"Reliable childcare is essential to the success of families, employers, and communities," said Susannah Perron, MVSB branch and business development manager. "We're proud to support Kidworks as they enhance their facility and expand access to quality childcare for Lakes Region families."

"For 30 years, Kidworks has supported children at critical stages of growth while helping parents and caregivers work, attend school and stay active in the community. This project will strengthen our facility and allow us to continue serving families who count on Kidworks for safe, nurturing, and consistent care," said Jennifer Weeks, executive director of Kidworks Learning Center. "We are grateful for MVSB’s support and investment in our mission."

Kidworks Learning Center has additional tax credits available and is seeking community and business support to help complete these critical facility improvements. Organizations interested in learning more about the tax credit opportunity can visit nhcdfa.org/safe-and-healthy-child-care.

CDFA tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75% of their contribution. The credit can be used over a period of five years to reduce the business' state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows New Hampshire businesses to use their state tax dollars to support local projects that they care about. CDFA reviews many project applications each year, and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state.

Visit nhcdfa.org for more information.