Geithner to unveil stimulus tax credits in Boston

Treasury Secretary Tim Geithner is stopping by Boston to announce the recipients of $1.5 billion in business tax credits designed to create and save jobs in areas hit hard by the economic downturn.

The New Markets Tax Credit program is funded through the federal stimulus package. President Barack Obama has said the stimulus package will save or create about 3.5 million jobs nationally, although critics have questioned how the administration plans to count saved jobs.

The tax credits can be a critical piece of financing for real estate development projects and businesses in economically stressed rural and urban communities.

Geithner plans to release the list of new recipients Wednesday after visiting the site of a past recipient in the Roxbury neighborhood of Boston.