On Monday, Swiss Krono, a producer of engineered wood, announced plans for a $200 million expansion in Barnwell, SC where the unemployment rate is nearly 15 percent. The project was made possible thanks to the NMTC. From Woodworking Network: More than $45 million in tax credits, allocated by the National New Markets Fund, The Innovative […]
The Richmond Federal Reserve is out with a new paper on the community development efforts in East Baltimore in the early aughts. The paper looks at how East Baltimore’s revitalization was supported by cross-sector collaboration and the right tools – in this case, the NMTC, LIHTC, and workforce development grants. Excerpt: Community development investment in […]
September is National Recovery Month, which is sponsored by the Substance Abuse and Mental Health Services Administration (SAMHSA) to raise awareness of mental and substance abuse and celebrate recovery. The theme this year is Join the Voices for Recovery: Invest in Health, Home, Purpose, and Community. For the NMTC community, the focus on investment and […]
This Tuesday, Senator John Thune (R-SD) visited Youth & Family Services (YFS) in Rapid City, SD, for an event celebrating their ongoing expansion. The facility was financed in part by the New Markets Tax Credit, and it will allow YFS to serve an additional 2,000 children each year. The project also created 70 new jobs, […]
Thursday, two members of the Ways and Means Committee, Congressman Jason Smith (R-MO) and Terri Sewell (D-AL), introduced the Rural Jobs Zone Act of 2018 (H.R. 6627). The legislation would authorize an additional $500 million NMTC allocation in both 2018 and 2019 targeted to certain rural areas. Target list The Rural Jobs Zone Act Summary: […]
We’ve updated our target list for H.R. 1098 and S. 384.
Report highlights NMTC project data from 2017, including 52 healthcare facilities, 69 manufacturers, 26 facilities for youth and families, and 23 vocational training centers WASHINGTON, D.C. (June 6, 2018) —The New Markets Tax Credit Coalition today released its 2018 New Markets Tax Credit (NMTC) Progress Report, the fourteenth edition of the report—providing a survey of […]
The NMTC supports entrepreneurship and business growth
We just launched a new landing page for NTMC-financed infrastructure projects. You can find it here: NMTC-financed Infrastructure
The Department of the Treasury’s CDFI Fund announced $3.5 billion in New Markets Tax Credit allocation awards today supporting investment in low-income areas across the country.