2017 NMTC Coalition Annual Conference
2017 NMTC Coalition June Policy Conference
On Wednesday, June 7th, the New Markets Tax Credit (NMTC) Coalition held its New Markets Tax Credit Annual Policy Conference. The event featured the release of the new 2017 NMTC Progress Report—the thirteenth edition of the report. The Coalition’s Board President Robert Davenport, a longtime NMTC practitioner and president of the National Development Council, emceed the event. A summary and round-up of social media and news mentions can be viewed on storify.
Paul Anderson, the author and designer of the report presented his findings during the opening plenary. As in the past, the report featured survey data from the most recent calendar year. The findings documented the flexibility and impact of the NMTC in meeting the ever-changing needs of distressed communities, helping create jobs and grow business opportunities. Projects represented 80 percent of those financed in 2016 and ranged from more traditional industry and community sectors to new and cutting-edge technology, including rural and urban incubators, small business loan funds, main street tourism, health clinics, manufacturing, schools and even robotics. Politico’s Morning Tax tipsheet and PoliticoPro Tax Whiteboard gave a shout-outs to the report, as did many local business journals.
Annie Donovan, CDFI Fund Director provided a keynote at the one-day policy conference, providing great insight on happenings at the agency. Attendees also engaged with panels that included senior CDFI Fund staff, experts on NMTC and the law, and a fish bowl discussion with key NMTC investors. At lunch, the group had the opportunity to hear from Bob Rapoza on the legislative landscape and talk tax reform with Beth Bell from Senator Cardin’s office, who is an NMTC Champion and Senior Finance Committee member, as well as Nick Wyatt from the Senate Finance Committee majority staff.
In the afternoon, conference attendees headed up to Capitol Hill for congressional meetings, followed by a reception in the Russell Senate Office Building. Senator Ben Cardin (D-MD), the lead Democratic cosponsor on the NMTC bill in the Senate (S. 384), gave a powerful speech on the impact of the NMTC, including over $80 million in NMTC investments in low-income communities and the creation of 750,000 jobs. Congressman Earl Blumenauer (D-OR) also attended and spoke about the need for continued investment in distressed urban and rural communities and the proven effectiveness of the NMTC in driving capital to areas that need it most.
In addition to this successful week advocating for the NMTC, the Coalition worked with Congressmen Pat Tiberi (R-OH) and Richard E. Neal (D-MA) on an op-ed highlighting the importance of making the NMTC permanent, which was featured today in The Hill.
March 22, 2017 Capitol Hill Briefing
Longtime NMTC champion and original cosponsor of the New Markets Tax Credit Extension Act of 2017 (HR 1098), Congressman Tom Reed provided opening remarks. The event included a video on how the NMTC works and presentations on NMTC projects that were featured in the NMTC at Work in Communities Across America report that the Coalition released in December 2016. Projects included the BlueOak and electronic waste recycling facility in Arkansas, Grady Memorial Hospital Emergency Room Expansion in Georgia, business incubator IndustryDENVER in Colorado and St. Martin de Porres High School in Ohio.
2016 NMTC Coalition Annual Conference
The 2016 NMTC Coalition Annual Conference was held on December 14-15 at the Hotel Monaco in Washington, D.C. This year’s event provided one of the first opportunities for the NMTC industry to engage with the CDFI Fund after the 2015-2016 “super round,” awarding CDEs $7 billion in NMTC allocations. On the legislative front, attendees heard updates on the new Administration and 115th Congress, concerning tax policy and regulatory plans for the NMTC. The conference also featured panels on investing and regulatory matters of importance from NMTC experts.
As in past years, time was set aside for attendees to visit their Members of Congress, as well as attend a Capitol Hill reception. Thank you to all of the conference attendees who made this one of our best attended and most substantive conferences yet. We also thank our conference sponsors for their generous support, including Baker Tilly, Butler Snow, Capital One, Chase, Citi, Dentons, Enhanced Community Development, Mass Development, Nixon Peabody, Urban Action Community Development, and Texas Mezzanine Fund. The agenda and presentations are below.
CDFI Fund PowerPoints
David Meyer: NMTC Chart
Greg Bischak: CIIS Reporting_NMTC Coalition_12-15-16
Minority CDE Training Initiative
Saurabh Narain, NCIF: NMTC Coalition 2016_NCIF Presentation
2016 Conference Agenda