New Treasury Data Analysis Confirms New Markets Tax Credit Generated Over One Million Jobs in America’s Most Distressed Rural and Urban Communities

Today, the New Markets Tax Credit (NMTC) Coalition provided an updated analysis of U.S. Department of Treasury data on the investment and creation of jobs in low-income communities nationwide. This data indicates that between 2003 and 2015, NMTC financing resulted in over one million jobs in low-income rural towns and urban neighborhoods—areas struggling with lagging […]

CDFI Fund Releases Updated NMTC Eligibility Data

Today, the CDFI Fund released updated census tract eligibility data for the NMTC program. The eligibility update utilizes data from the 2011-2015 American Community Survey (ACS). Detailed guidance will be posted soon on the CDFI Fund website. CDFI Fund News Release Eligibility Changes: There are about 73,000 census tracts nationwide, of which 31,640 are eligible […]

Thousands of Organizations Urge Congress to Save NMTC in Tax Reform

More than 2,100 Businesses, investors and organizations call on Congress to expand and make the community and economic development tax credit permanent in tax reform (Washington, D.C.) –Today, the New Markets Tax Credit (NMTC) Coalition sent a letter addressed to the House Ways and Means Committee and its Chairman, Kevin Brady (R-TX), as well as […]

Republican Tax Framework Leaves Economic Future of Distressed Communities in Uncertain Situation with Omission of the NMTC

The Republican leadership released its tax reform framework but failed to include the New Markets Tax Credit, a proven tool for community revitalization and job creation in some of the poorest neighborhoods and communities in America Washington, D.C. –The NMTC Coalition was disappointed that the Republican Tax Framework released by Republican leadership left out the […]

Independent Report Finds NMTC Program Meets, Exceeds Program Objectives

Independent Report Finds NMTC Program Meets, Exceeds Program Objectives

In-depth analysis of the New Markets Tax Credit finds projects sampled are in full compliance, with most projects far exceeding requirements for economic distress and CDFI Fund mandates Washington, D.C. – The NMTC Coalition was pleased to see a new independent report commissioned by the U.S. Department of the Treasury’s CDFI Fund to evaluate the […]

New Markets Tax Credit Jumpstarting Rural Manufacturing

New Markets Tax Credit Jumpstarting Rural Manufacturing

The most popular use of the NMTC in rural America is to support the manufacturing sector. NMTC financing typically goes to business expansions, new equipment and facilities, and working capital. Between 2003 and 2014, the NMTC financed 223 rural manufacturing projects totaling $4.8 billion. Below are a few of their stories: Loading Videos… Map of […]