Neal celebrates ribbon-cutting at Baystate MRI & Imaging in Springfield.
At approximately 10 a.m. on Monday, July 19, 2010 Congressman Richard E. Neal made an appearance for a ceremonial ribbon-cutting to celebrate the opening of Baystate MRI & Imaging Center, the Magnetic Resonance Imaging (MRI) facility located at 80 Wason Avenue in Springfield, Massachusetts. The facility is a joint-venture partnership between Shields Health Care Group and Baystate Radiology & Imaging that has existed for over ten years. Financing for the new facility, in the North End neighborhood of Springfield just west of Baystate Medical Center, was provided pursuant to the federal New Market Tax Credits program by one of the community development subsidiaries of Rockland Trust Company.
The New Markets Tax Credit Program was created in December 2000 to provide tax incentives to induce private-sector, market-driven investment in businesses and real estate development projects located in low-income urban and rural communities across the nation. The New Markets Tax Credit Program is administered by the United States Department of the Treasury Community Development Financial Institutions Fund., which has designated the Springfield census tract where the new Baystate MRI & Imaging Center is located as an area suffering from a high degree of economic distress. Construction of the facility created approximately 45 temporary construction jobs, and has resulted in the permanent location of 22 employees to work at the MRI facility. Baystate MRI & Imaging Center is a socially responsible medical services provider that offers services to all patients regardless of their ability to pay, and has committed to working with a Springfield community job bank when future hiring needs arise.
The United States Department of the Treasury Community Development Financial Institutions Fund has honored the community development subsidiaries of Rockland Trust on three occasions with awards of tax credit allocation authority under the New Markets Tax Credit Program. Rockland Trust has used those awards to make loans to qualified businesses and individuals in low-income communities in Massachusetts and Rhode Island on advantageous terms and conditions, such as below market interest rates. More information on the New Markets Tax Credit Program may be obtained at www.cdfifund.gov.
About Congressman Richard E. Neal
Richard E. Neal was born in Worcester, Massachusetts on February 14, 1949 and was raised and educated in the City of Springfield. He is a 1972 graduate of American International College, where he received his Bachelor’s Degree in Political Science and was a member of the National Honor Society. He received his Masters Degree in Public Administration from the Barney School of Business and Public Administration at the University of Hartford in 1976. Richard E. Neal was first elected to the United States House of Representatives in 1988. He represents the Second District of Massachusetts, which includes cities and towns in western and central Massachusetts. He is a member of the powerful Ways and Means Committee and the Chairman of the Subcommittee on Select Revenue Measures. Congressman Neal is an At-Large Whip for the House Democrats. He is a co-chairman of the New England Congressional Caucus, where he continues to advocate for the unique regional interests of the six New England States. Congressman Neal serves as the Chairman of the Friends of Ireland and has been recognized repeatedly by Irish America Magazine as one of the Top 100 Irish Americans. He has been honored by the Holyoke, Massachusetts Saint Patrick’s Day Committee with both the John F. Kennedy Award and the Ambassador’s Award, the Committee’s two highest honors. In 2002, Congressman Neal received the International Leadership Award by the American Ireland Fund for his work over two decades to bring peace and reconciliation to the island of Ireland. He is a Trustee of Mount Holyoke College and has received honorary degrees from Springfield College, Western New England College, Elms College and Suffolk University.
About Baystate MRI & Imaging
Baystate MRI & Imaging is a joint venture partnership between Baystate Radiology and Imaging Inc. and Shields Health Care Group, which provides MRI services across central and southern New England, and is the official MRI provider of the New England Patriots, the Boston Bruins, the Boston Celtics and the New England Revolution.
About Rockland Trust Company
Rockland Trust Company is a full-service community bank headquartered in Hanover, Massachusetts, with approximately $4.5 billion in assets. The sole bank subsidiary of Independent Bank Corp. (NASDAQ: INDB), Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services. Rockland Trust’s network consists of 70 retail branches, 10 commercial lending centers, four mortgage banking centers, and four Investment Management Group offices located throughout Eastern Massachusetts. To find out why Rockland Trust is the bank “Where Each Relationship Matters®” visit www.RocklandTrust.com.
Lisa Campisi 774-328-2397