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Pittsburgh lands millions in federal tax credits

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Wednesday, April 24, 2013, 6:39 p.m.
 

The U.S. Treasury Department awarded Pittsburgh $35 million in federal tax credits for economic development in low-income neighborhoods, the mayor's office announced Wednesday.

Gigi Saladna, a spokeswoman for the city's Urban Redevelopment Authority, which will award the credits through its Pittsburgh Urban Initiatives program, said a decision on where the money will go is coming in “the near future.”

Since February 2011, Urban Initiatives has received $90 million in tax credits that have helped to finance several Pittsburgh developments, including Highmark Stadium at Station Square and The Gardens at Market Square in Downtown.

More than 2,000 full- and part-time jobs have been created, said the URA in a news release.

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