Now Hiring – NTMC Helps New Company at Former Naval Air Base Hire 50 New Skilled Workers

Blog, Latest News
From the Maine Public Broadcasting Network: Two years ago, a medical products company from Europe called Molnlycke Healthcare chose to locate its U.S. manufacturing headquarters in Brunswick, Maine, on the site of the former Brunswick Naval Air Station. Molnlycke is one of world's leading makers of advanced wound-care products. It's based Sweden but has a global presence, employing about 7,000 people with about $1.5 billion in annual sales. The company broke ground on the Brunswick facility last month, and plans to begin production this fall. Before that can happen, though, there's some hiring to be done. .... But why Brunswick, a former mill town of 15,000 inhabitants, more than two hours north of Boston? One reason is that it already has a presence in mid-coast Maine: The foam used in…
Read More
New Markets Tax Credit Announcement Hailed Across the Country

New Markets Tax Credit Announcement Hailed Across the Country

Featured, Latest News, Slideshow
Today the Treasury Department's blog, "Treasury Notes", chronicles some of the positive press received by the NMTC in newspapers around the country: Last week, the Treasury’s Community Development Financial Institutions Fund announced a new $3.5 billion allocation of New Markets Tax Credits to revitalize low-income and distressed communities. Awarded to 85 different community development entities headquartered across 28 states and the District of Columbia, the tax credits allow these organizations to attract private investment capital to underserved communities across America. In the past, every dollar in tax credits has generated an average of eight private investment dollars for projects like manufacturing plants, retail developments, affordable housing and health centers. Perhaps that’s why last week’s announcement was greeted with excitement across the country. Read their full post.
Read More

Tax Reform Update: Senate Finance Committee Member Meetings

Blog, Latest News
Over the next several months, the Senate Finance Committee will convene weekly to discuss a series of topics and collect feedback from members on a wide range of options for taking on tax reform. These meetings will be Member-only and are organized by policy area. Below is the tentative schedule (subject to change): April 11: Small business, corporate investment and innovation; April 18: Families, education and opportunity; April 25: Infrastructure, energy, and natural resources; May 9: Types of income, investment, and tax structures; May 16: Economic security, health, retirement, and insurance; May 23: International competitiveness; June 6: Economic and community development; June 13: Tax exempt organizations and charitable giving; and June 20: Non-income tax issues
Read More

State Economic Impact Reports

Blog, Latest News
The NMTC Coalition recently released the NMTC Economic Impact Study (December, 2012). Our national findings show that the NMTC has created over 500,000 jobs and generated a significant return to the federal government in terms of tax revenue generated. We also investigated NMTC impacts for all fifty states and the District of Columbia. Browse state economic impact reports
Read More

Ways and Means Committee Announces Formation of Tax Reform Working Groups

Blog, Latest News
Washington, DC - Today, Ways and Means Committee Chairman Dave Camp (R-MI) and Ranking Member Sandy Levin (D-MI) announced the formation of 11 separate Ways and Means Committee Tax Reform Working Groups. The groups will be led by one Republican Member serving as Chair and one Democratic Member serving as Vice Chair.  Each of the 11 groups will review current law in its designated issue area and then identify, research and compile feedback related to the topic of the working group.  The working groups will be responsible for compiling feedback on its designated topic from: (1) stakeholders, (2) academics and think tanks, (3) practitioners, (4) the general public and (5) colleagues in the House of Representatives.  Once the work of those groups has been completed, the Joint Committee on Taxation…
Read More

Novogradac Journal of Tax Credits: NMTC Economic Impact Report Confirms Significant Return on Investment

Blog, Latest News
By Teresa Garcia, Editorial Assistant, Novogradac & Company LLP Published in the Novogradac Journal of Tax Credits - February 2013, Volume IV, Issue II The New Markets Tax Credit (NMTC) program was revived with Congress’ Jan. 2 passage of the American Taxpayer Relief Act of 2012 (H.R. 8). The eleventh hour decision extends the NMTC through 2013 at $3.5 billion per year. A report released in December by the New Markets Tax Credit Coalition confirmed what program supporters have been saying since before the NMTC was allowed to expire in 2011: the NMTC is a sound investment not just for communities, but for taxpayers as well. Statistics show that the program has created thousands of jobs in economically distressed areas and has generated a healthy return on investment. Read more...
Read More

New Markets Tax Credit Coalition Commends Extension of New Markets Tax Credit in American Taxpayer Relief Act

Blog, Latest News
“Fiscal Cliff” Legislation Provides Two-Year Extension to Federal Tax Credit Program Proven to Fuel Private Investment in Economically Distressed Communities WASHINGTON, D.C. – The New Markets Tax Credit Coalition (NMTCC) applauds the passage of legislation extending the New Markets Tax Credit (NMTC) for two years. By extending the NMTC, Congress ensures the continued delivery of billions in capital to businesses and revitalization projects in low income communities. “The New Markets Tax Credit has shown that – at a modest cost to the federal government – it generates meaningful economic growth and job creation in economically distressed urban and rural communities throughout the country,” explained Jose Villalobos, New Markets Tax Credit Coalition Board of Directors Chairman and TELACU Senior Vice President. “I commend Congress for ensuring that private sector investment in…
Read More