Plymouth county bank gets federal money

Tax credits will be used in low-inome areas

Rockland Trust, which has several branches in Plymouth and neighboring communities, is one of 70 banks to receive tax credits under a federal program.

Banker & Tradesman reports the company received $66 million in credits under the New Markets Tax Credit Program, which is intended to encourage investment in business and real-estate projects in low income communities. The money is officially being awarded to a subsidary company, the Rockland Trust Community Development Corporation.

The bank has received similar credits in the past and claims to have created about 2,800 jobs with that money.

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