MVSB supports Grafton Regional Development Corporation

CONCORD — Meredith Village Savings Bank recently purchased $5,000 in tax credits through the New Hampshire Community Development Finance Authority to support Grafton Regional Development Corporation. The investment allows GRDC to continue progress in local economic growth, job creation, small business lending and opportunities for workforce development.

“Contributions like this one make it possible for us to continue our valuable work. By providing financing and assistance to established and developing businesses, GRDC contributes to the creation of jobs and the growth of our local economy,” said Anne Duncan Cooley, chief executive officer. 

“Meredith Village Savings Bank and our employees are proud to support GRDC. We applaud and stand behind their mission to help local businesses prosper. It’s very rewarding to make contributions to outstanding organizations like this one,” said Rick Wyman, president of Meredith Village Savings Bank. “We have an excellent relationship with GRDC. We rent space to them from our branch office on Main Street in Plymouth, and we’ve been a long-time supporter of their Enterprise Center.” 

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 Community Development Finance Authority. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a 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. For more information, visit nhcdfa.org.

For more information about Grafton Regional Development Corporation, visit graftonrdc.org. 

To learn more about Meredith Village Savings Bank, call 800-922-6872 or visit mvsb.com.