HARRISBURG, Pa. (WHTM) — M&T Bank announced on Nov. 22, 2022, that they are set to provide about $1.2 million in funding for many initiatives around Pa. in the 2023 fiscal year.

The funding is being provided through Pennsylvania’s Neighborhood Assistance Program (NAP).

According to the Pennsylvania Department of Community and Economic Development’s (DCED) website, the NAP is a tax credit program that incentivizes businesses to receive tax credits by investing in community projects, which aim to improve underserved communities or to address neighborhood problems.

Projects and initiatives that are NAP-approved consist of:

  • Affordable Housing
  • Community Services
  • Crime Prevention
  • Education
  • Job Training
  • Food Access
  • Blight
  • Special population issues
  • Veterans
  • Long-term Community Revitalization

“M&T supports the Neighborhood Assistance Program as an innovative way to spur community development and revitalization throughout Pennsylvania,” Gail D’Angelo, M&T’s community reinvestment manager for Pennsylvania said. “We look forward to working with our partner
organizations that were approved for NAP this year and witnessing the tremendous impact they will make in their respective communities.”

According to M&T Bank, the $1.2 million in funding is going towards 42 different initiatives – primarily in southeast and central Pennsylvania. Of the $1.2 million investment, $395,000 in southeast Pa., $300,000 in Philadelphia, and $295,000 in central areas will be utilized to help fund 30 NAP approved projects in the 2023 fiscal year – which ends June 30, 2023.

Some of the initiatives that M&T Bank will help to support through the NAP investment include:

  • $50,000 for Diamond City Partnership, which is an economic development alliance designed to transform downtown Wilkes-Barre, Pa.
  • $50,000 for Working to Empower People for Advancement (WEPA), for a bilingual community based workforce development center in Lebanon, Pa.
  • $30,000 for Affordable Housing Centers of Pennsylvania, to provide housing counseling services to residents in West Philadelphia
  • $25,000 to HDC Mid-Atlantic to aid its ongoing College Avenue affordable housing project in Lancaster, Pa.
  • $25,000 for a Small Business Development Center in Kutztown, designed to assist entrepreneurs and small businesses by providing resources and information needed to launch or grow their businesses.
  • $10,000 for Midwest Food Bank to provide food and food distribution to more that 137,000 individuals in Central Pa.

So far, the bank has participated in the NAP investment program for several years, and in fiscal year 2022, they provided $836,000 to 35 separate projects throughout the state, according to M&T Bank.