Heartland Regional Investment Fund Invests $8M For Redevelopment Of Innovation Hub in Alton
ALTON – Heartland Regional Investment Fund (HRIF), a Certified Development Entity (CDE) managed by the St. Louis Economic Development Partnership (STL Partnership) has invested $8 million in New Markets Tax Credits (NMTC) for the redevelopment of two commercial buildings in Alton. The Heartland Regional Investment Fund and the New Markets Tax Credits program support investments that create jobs and provide services in distressed communities throughout the greater St. Louis metropolitan area. The redevelopment project, led by AltonWorks, a company focused on revitalizing Downtown Alton, plans to transform the Wedge and Elfgen buildings on the 600 block of East Broadway into the Wedge Innovation Center. The center will be a hub to support startups and later-stage companies through education, mentorship, and finance opportunities. Companies located in the hub will benefit from private offices, co-working space, training events, and street-level retail and café space. AltonWorks
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