Development of rural areas is essential to the growth and development of the country. It is a common misconception that the United States doesn’t have any rural areas but the fact is quite the contrary, with numerous areas of the country that need the attention from the government to facilitate their growth and development. One such rural area which was in dire need of development in the past few years was the state of Maine. The state is one of the few areas within the company that has required government attention over time and is now starting to see the benefit of the efforts of the people of the state, as the United States Department of Treasury has donated a large sum of money towards the state and the companies that have their operations within the state. As part of this, CEI Capital Management, a company based in the state of Maine, has been given over $80 million in the treasurer’s efforts to divulge into new markets to offer help where help is needed (Maine to benefit from $80 million in tax credits for U.S. rural development).
CEI Capital Management is a company that has been driven to help the development of the state and the people living within it. Based out of Portland, the company aims to use the money that they have been given towards numerous community and societal developmental projects. In the past, CEI Capital Management has been involved with numerous developmental projects, creating large job opportunities as a result of the various companies it sets in motion. Since the employment of the first tax credit for new markets policy, CEI Capital Management has had a considerable impact on the growth and overall income of the state. CEI Capital Management’s main aim is to be able to create jobs for the numerous people living in low-income and rural areas, to give them a means to be able to sustain and support themselves, and their families. However, not all the projects that this company has undertaken have been financed by the Government. In previous projects, CEI Capital Management has invested nearly $247 million for the purpose of helping the development and growth of the country’s rural areas.
As part of their goal to finance companies who are working for the betterment of rural areas, the Department of Treasury has allocated a lot of funds, amounting to almost $7 billion with the hope of creating new markets, thus supplementing the overall growth of the company.