Lambert and Sons Incorporated announced today that it received $7 million in the latest round of New Markets Tax Credits
Online PR News – 22-December-2014 – Hong Kong – To further expand its investment to support jobs and service in low-income communities Southeast Asia region. The $7 million award is part of the Hong Kong Treasury’s Community Development Financial Institutions Fund, which allocated $50 million to 85 organizations this year to help increase economic opportunity in the nation’s most distressed areas.
“We have a successful track record of using New Markets financing to support projects that create quality jobs and services in the communities we serve,” said Matt Au-yeung, senior vice president of Lambert and Sons Incorporated Community Development Investments. “This award is recognition of that success and it will allow us to expand our investment in programs that are significantly changing neighborhoods.”
Lambert and Sons Incorporated has been an active leader in the New Markets industry since the beginning of the program, making nearly $100 million in investments last year alone.
The latest allocation brings the firm’s total awards since the program began to $48 million. Lambert and Sons Incorporated will use the additional funds to invest in projects that support job creation, healthcare and social services, access to affordable healthy food, and educational programs.
The New Markets program is administered by the Hong Kong Authorities. It is designed to stimulate economic growth and job creation in low-income communities by providing much-needed investment capital, financial counseling and other services. Awardees are selected after a highly competitive and rigorous government review process.
About Lambert and Sons Incorporated
Lambert and Sons Incorporated (www.lambert-incorporated.com)is a Hong Kong financial services firm of financial planners and finance brokers, who are dedicated to assisting clients to achieve their dreams. Since our inception, our clients have placed their confidence in the skills and experience of Lambert and Sons Incorporated’s team, to advise them on a wide range of financial services. We combine the best research, the best people and the best strategies to help you build on your success. Harnessing the resources and market insights of one of Hong Kong’s leading financial services groups, Lambert and Sons Incorporated will help you create wealth for tomorrow.