Our new report, The New Markets Tax Credit: At Work in Communities Across America, features ninety-two NMTC success stories from all fifty states plus the District of Columbia.
The Latest from the Blog
- Bipartisan Bill to Permanently Extend New Markets Tax Credit Introduced in Senate June 11, 2013
- Senators Rockefeller (D-WV) and Blunt (R-MO) introduce NMTC extension legislation June 11, 2013
- New Report Demonstrates Federal Tax Credit Program’s Ability to Stimulate Economic Development, Create Jobs in Low Income Communities June 5, 2013
- Turning federal tax credits into rural jobs May 28, 2013
- Now Hiring – NTMC Helps New Company at Former Naval Air Base Hire 50 New Skilled Workers May 2, 2013
About the NMTC
The New Markets Tax Credit (NMTC) was originally authorized in 2000 as part of a bipartisan collaboration between President Clinton and Speaker Hastert (R-IL). The idea behind the NMTC is that there are good business opportunities in urban and rural low-income communities, but the cost and availability of capital in these ‘New Markets’ is an impediment to economic growth. NMTC employs a modest federal subsidy to stimulate private sector investment in these communities through a delivery system of private for-profit and nonprofit entities that provides patient, flexible capital to businesses and projects.
The NMTC Coalition recently released the NMTC Economic Impact Study (December, 2012). Our findings show that the NMTC has created 500,000 jobs and generated a significant return to the federal government in terms of tax revenue generated.
Browse our video vault, featuring case studies, Congressional testimony, hearings, and events.