P10 Inc.'s Subsidiary Enhanced Community Development Secures $65 Million in New Markets Tax Credits

New York - October 2, 2024 - NYSE:PX, also known as Praxair, Inc., a producer and distributor of industrial gases based in Danbury, Connecticut, today features a notable achievement from one of its linked firms in the financial services sector. P10, Inc., recognized for its prowess in private markets solutions, has made headlines with its announcement that Enhanced Community Development, an element of its subsidiary Enhanced Capital Group LLC, has successfully been allocated $65 million through the New Markets Tax Credits (NMTC) program. This substantial financial endorsement highlights the continuing commitment to fostering economic progress and rejuvenation in underserved communities.

Understanding New Markets Tax Credits

The NMTC program was established with the objective of incentivizing economic and community development in areas that are in dire need of investment. By allowing investors to receive a tax credit through their equity investments in Community Development Entities (CDEs), these regions are provided with a unique opportunity for growth and transformation.

The Impact of the Allocation

This $65 million influx, under the purview of the NMTC program, is expected to play a pivotal role in bolstering economic stability, generating jobs, and enhancing the quality of life in low-income and impoverished localities. P10, Inc. and its associated entities, like Enhanced Community Development, are poised to oversee the strategic utilization of these funds to bridge gaps in financing that often hinder community development projects.

Investment, P10, TaxCredits