Geithner in NC to tout tax credits for community development, hear about high-tech jobs

Geithner touts development tax credits in NC

DURHAM, N.C. — Treasury Secretary Timothy Geithner is touting tax credits and jobs in North Carolina as the Obama administration marks a year since approval of the $787 billion federal stimulus package.

Geithner was visiting Durham on Thursday to highlight a type of tax credit designed to spur jobs in low-income neighborhoods. He’ll visit a job training center and a retail business in a former Durham textile mill converted, in part, with financing through the New Markets Tax Credit program.

Last year’s stimulus package included an extra infusion of cash for the tax credit initiative. The administration’s proposed budget for next year also expands the program.

Geithner also plans to meet with business, university and political leaders to discuss high-tech jobs in Research Triangle Park.