FORT WAYNE, Ind. (WOWO): Wednesday afternoon, Mayor Tom Henry announced that the City of Fort Wayne will receive $33 million in federal funding that will go towards future development projects. 

The funding comes from New Markets Tax Credits from the U.S. Department of the Treasury. 310 organizations nationwide applied for the tax credits, but only 87 were granted funds.

Fort Wayne is the only Indiana entity to receive the funding.

“This is a major win as we continue to see unprecedented momentum in our City, I want to comment our City employees for their tremendous efforts in assisting us in receiving these financial resources,” said Mayor Tom Henry. “The new funding positions our community for additional economic development opportunities and new jobs to make Fort Wayne a business investment and quality of life leader in northeast Indiana and the Midwest.”

In 2008 Fort Wayne also received a similar grant, that funding went to funding the Harrison Project.