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Is the residency criteria intended to deter out-of-state participation?

April 26, 2017criteria deter out-of-state participation residency

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Is the residency criteria intended to deter out-of-state participation?

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No. The purpose of the residency criteria is to ensure that the management and/or controlling interests of a TNInvestco receiving a tax credit allocation have a previously established and longstanding commitment to business development activities in Tennessee.