Latest news with #MCCs
Broadcast Pro
25-06-2025
- Business
- Broadcast Pro
Skandha and EFC partner to expand Global Media Capability centres
Partnership with space-branded real estate expert delivers next-level offshoring agility for broadcasters, OTT platforms, and media tech firms by managing the entire content lifecycle. Skandha Media Services, a specialist in broadcast and digital media technology powered by cloud, AI and automation, has announced a strategic partnership with EFC Limited, a leader in dynamic workspaces and physical infrastructure. This collaboration is set to enhance Skandha's ability to offer scalable, cost-effective solutions for global media and entertainment (M&E) companies looking to offshore operations through Media Capability Centers (MCCs). EFC, which operates fully managed workspaces across key Indian cities including Mumbai, Hyderabad, Chennai and Gurugram, is already supporting several Global Capability Centres (GCCs) in India. The new alliance builds on that foundation, enabling Skandha to expand its infrastructure and deliver tailored services that support end-to-end media workflows, from broadcast playout and live event production to ad monetization and post-production. India has emerged as a hub for GCCs, with over 1,580 such centres, according to a recent EY report. Of these, about 50 are focused specifically on media and entertainment, forming a niche category known as MCCs. These centres cater to the unique needs of the M&E sector, combining creative, technical, and operational expertise to centralise and scale media activities across sectors such as broadcasting, digital content, sports, gaming, and advertising. MCCs streamline essential operations including localisation, regulatory compliance, VFX, programmatic media buying, news production, audience analytics and content creation. Major global media brands like Disney, ESPN, Bloomberg, Comcast and Warner Bros. Discovery have already invested in such offshoring hubs in India. As part of the collaboration, Skandha and EFC have worked on a high-impact space branding initiative to position Skandha's MCC offerings, showcasing their ability to execute large-scale rollouts with speed and precision. Yogesh Salian, CEO & founder of Skandha Media Services, explained: 'EFC's experienced leadership in workspace and real estate, and its readily available capacity, can easily accommodate our MCC infrastructure. This means we can provide fully outsourced end-to-end services, along with the infra, processes and people to support the entire media workflow spectrum – from broadcast playout, live event support, ad insertion and ad monetisation, to content rights management, content services and post-production processes. 'This collaboration allows us to offer our domestic and international clients not only economies of scale in infrastructure but also highly efficient and scalable operations.' Founder of EFC Ltd., Umesh Sahay said: 'Skandha has become a well-known brand in the region with a strategic vision that will benefit M&E customers worldwide. We're delighted they have chosen EFC to host their MCCs to bolster services and help their customers stay ahead in such a competitive landscape.' The partnership is also strategically aligned with the growing industry trend of prioritizing profitability over expansion. By outsourcing infrastructure and technical operations to Skandha's MCCs, global broadcasters, OTT platforms, and sports media organisations can reduce capital and operational costs while maintaining performance and agility. These services are further enhanced by Skandha's AI-driven workflows, secure enablement, and automated quality control, enabling rapid deployment and execution. With the alliance now in place, Skandha aims to rapidly scale its Global Media Capability Centres, delivering powerful support to M&E brands navigating increasing content demand, accelerated digital transformation, and tightening margins. 'We're confident that our expanded Global Media Capability Center will help amplify brand presence across diverse platforms and environments,' Salian added. 'This partnership will help us to rapidly scale operations and empower our customers to navigate rising content consumption, rapid digitalization and cost pressure with agility.'
Business Wire
09-06-2025
- Business
- Business Wire
Tulsa-Based Power Distribution Solutions Provider Announces Bold New Brand
TULSA, Okla.--(BUSINESS WIRE)--Today, premier power distributions solutions provider Layco Electric Innovations announced a corporate rebrand to American Power Innovations. This change reflects the 80-year-old company's immense growth in recent years, as well as its ongoing commitment to providing top-tier power distribution services and custom-engineered products to customers across the country in industries like defense, energy, utilities and more. This change reflects the company's immense growth and ongoing commitment to providing top-tier power distribution services and custom-engineered products to customers across the country in industries like defense, energy, utilities and more. Share 'Our new name is a reflection of who we've become and where we're headed,' said Brandon Lenhart, president of American Power Innovations. 'Throughout our eight decades of business, we've evolved to meet our customers' needs by delivering turnkey power distribution solutions. This rebrand reinforces our commitment to providing quality custom products, generating industry advancements, and offering premium engineering services. These principles will guide us as we continue to grow rapidly and shape the future of power distribution.' The company will continue to offer custom-built products to customers nationwide. The company's marquee offerings are its power distribution centers (PDCs) and motor control centers (MCCs), which it engineers and manufactures in-house at its facilities in Tulsa, Oklahoma. In addition to PDCs and MCCs, American Power Innovations specializes in switch racks, VFD skids and control panels, and offers bespoke engineering services and electronic repair services on-site or in the field. Centrally located in the American heartland, American Power Innovations leverages its location to offer greater logistical efficiency, improve delivery times and service customers around the country. All materials used in manufactured products are sourced from domestic suppliers, ensuring consistent quality and showcasing the company's commitment to American manufacturing. For more information about American Power Innovations, visit About American Power Innovations For 80 years, American Power Innovations has engineered products to support the critical performance needs of industries including: chemical, data centers, defense, energy, information technology, municipalities, utilities and more. Its turnkey solutions and exceptional manufactured products have helped companies nationwide thrive for decades. Centrally located in the United States, American Power Innovations relies on sourcing materials from domestic suppliers, ensuring consistent quality and showcasing the company's commitment to American manufacturing.
Yahoo
21-05-2025
- Business
- Yahoo
How a mortgage credit certificate (MCC) lowers the cost of borrowing
A mortgage credit certificate allows qualifying homeowners to claim a refund for a portion of the interest paid on their mortgage each year. The mortgage credit certificate can be a homeowner's resource that can provide substantial tax savings, even if they claim the standard deduction. Work closely with your lender and a trusted tax professional to ensure you are properly taking advantage of this benefit and maximizing your tax deductibility. If you're a first-time homebuyer or haven't owned a home recently, you might qualify for a mortgage credit certificate, also called a mortgage interest credit certificate or MCC. A mortgage credit certificate could save you money when filing your taxes or make it easier to pay your mortgage each month. Learn more about this mortgage certificate, who is eligible, how to apply, how to claim the tax credit and what happens if you refinance. A mortgage credit certificate allows qualifying homeowners to claim a refund for a portion of the interest paid on their mortgage each year, up to $2,000. A state or local housing finance agency administers the MCC program (not all states have them). An MCC is not a tax deduction. Instead, it offers a dollar-for-dollar tax credit to eligible homeowners, applied against their federal income tax. Each state sets a limit on the percentage of the total mortgage interest that can go toward the $2,000 credit: In Montana, for example, the credit is limited to 20 percent of the interest paid. Mortgage credit certificates are issued directly to eligible homebuyers by their lender. They're geared to low- and middle-income taxpayers, though the exact qualifying income ranges vary by state. A mortgage credit certificate aims to make owning a home more affordable for low-income households. It allows them to take a nonrefundable federal tax credit equal to a particular percentage of the interest charged by their home loan annually — the general range is usually between 10 and 50 percent. The mortgage credit certificate reduces an eligible borrower's federal income taxes, effectively enhancing their net income. MCCs can aid mortgage borrowers who might not otherwise qualify for a loan by decreasing their net monthly mortgage payment or effectively boosting their earnings (the lender can consider the MCC as income). To qualify for an MCC, you have to meet certain borrower criteria: Be within income and sales price limits set by your state Be a first-time homebuyer, defined as someone who hasn't had an ownership interest in a principal residence in three years (this requirement is waived if you are an active military service member or veteran or purchase in certain areas designated by the U.S. Department of Housing and Urban Development) Use the home as your principal or primary residence Participate in homeownership counseling or homebuyer education if required by your state's MCC program Use the MCC with a purchase loan; refinanced loans are usually not eligible Pay fees charged by your housing finance agency and/or lender, if applicable (these sometimes can be rolled into the mortgage itself) The MCC tax credit can be taken at the time borrowers file their tax returns. To claim it, you'll want to use IRS Form 8396 to document the MCC's details and calculate your savings for the calendar year. Or, you can claim the benefit monthly, by amending your W-4 tax forms to lower the amount of federal income tax withheld from your paychecks. It's wise to consult with a tax professional to make sure you're making the most of the benefits, and claiming them properly. Like everything else with buying a home, getting a mortgage credit certificate will cost you. Paradoxical as it sounds, you have to spend money to save money, at least at the start. The price tag varies based on your location and lender. In Michigan, for example, an MCC will run you $400, and a lender may tack on another $100 administration fee. In Texas, an MCC comes with a $500 issuance fee and a $200 compliance review fee. While those additional fees might be frustrating, remember that you could wind up using the mortgage credit certificate for 30 years, so the annual savings might greatly exceed the one-time costs. Some municipalities or lenders allow you to roll the fees into your mortgage itself. Whether you qualify for a mortgage credit certificate depends on a few key factors: Where you live How much you make The cost of the property The size of your household Whether you're a first-time homebuyer These figures can vary widely from state to state and county to county. For example, in Louisiana, depending on where you intend to purchase, a family of two's income cannot be higher than either $58,400 or $70,080 and the home being purchased must cost $312,368 or less in order to qualify for a mortgage credit certificate. Head up to Michigan, and you might qualify for an MCC if the property costs up to $544,233 and your income is somewhere between $95,600 and $182,840. To determine whether you qualify for a mortgage credit certificate, check your state housing finance authority's website to learn specific requirements. You'll also want to browse the list of lenders that are approved to issue mortgage credit certificates. The MCC application process varies by state. 'Generally, a homebuyer applies for a mortgage credit certificate through their lender,' says Rosemarie Sabatino, senior homeownership policy specialist at the National Council of State Housing Agencies. 'It is often the lender that makes borrowers aware of the MCC program and its potential benefits. If a homebuyer is also applying for a housing finance agency program mortgage, the MCC and loan applications are generally submitted at the same time. The application process is straightforward, as you supply income information and details about the home, such as the purchase price and location. Keep in mind not all states have MCC programs, which is why it might benefit you to check out first-time homebuyer programs. You can also explore other local and federal programs that can lower your closing costs or offer help with your down payment. For more information on how to apply for a mortgage credit certificate, contact your state's housing finance agency (HFA) — there's a handy list of them here. Mortgage interest credit certificates come with advantages and disadvantages. It lowers your tax liability and can create more income. It makes it easier for low-income borrowers to buy a house. It's compatible with many loan types like conventional and government-backed mortgages. The program comes with fees, which vary by state. If you refinance, your borrowed amount must be lower than that of the original loan to keep the credit. Credits can't be used with tax-exempt bond-financed mortgage programs. Can I use a mortgage credit certificate for any type of loan? Yes, you can use a mortgage credit certificate with conventional and government-backed mortgages. Can I transfer my mortgage credit certificate to another property? No. Mortgage credit certificates are reserved for a first-time home purchase. Can I still qualify for a mortgage credit certificate if I have bad credit? Yes. A mortgage credit certificate isn't a loan but a federal tax credit, so your credit score won't matter. Can I sell my home if I have a mortgage credit certificate? You can sell your home, but beware of the recapture tax, which basically means you have to pay some of the credit back. It applies when three conditions apply. Those conditions include: you sell your home before owning it for nine years, you achieve a capital gain on the sale and your income has increased significantly since you bought your home. What is a mortgage credit certificate number? A mortgage credit certificate number is a number that's issued to you by the agency through which you qualified for the MCC program. Sign in to access your portfolio
