Solomon announces $40,000 grant to strengthen business corridors in northeast Philadelphia
PHILADELPHIA, Feb. 27 – In his ongoing effort to strengthen lower northeast Philadelphia’s commercial corridors and support local business owners, state Rep. Jared Solomon, D-Phila., announced a $40,000 grant for a local community development corporation.
Solomon announced that the state awarded funds to the Oxford Circle Christian Community Development Association during a news conference Tuesday at Castor and Hellerman streets. The money comes from the Pennsylvania Department of Community and Economic Development’s Neighborhood Assistance Program (NAP). It is the first NAP grant ever to lower northeast Philadelphia.
“Supporting the business corridors of my district – Castor, Bustleton, and Cottman avenues – has been a top priority since I became a state representative,” Solomon said. “I congratulate the leadership of the Oxford Circle CCDA in obtaining these grant funds from DCED and hope many more state dollars will come to support this community.”
The grant is made possible through the NAP tax credit, in which businesses – in this case M&T Bank along with Kinder Academy – donate to the Oxford Circle CCDA and in return get a tax credit on state business taxes equal to 75 percent of their contribution.
Solomon joined representatives from the OCCCDA, M&T Bank, Kinder Academy, Castor Bustleton Cottman Business Association and DCED at today’s event.