The state of America's crumbling infrastructure is well-documented. The problem is much worse in distressed communities that lack the tax base to improve roads, expand high-speed broadband, or provide students with a quality education. Without those building blocks of economic growth, the prospects of attracting new businesses are dim.
While the NMTC was not designed to fix infrastructure, its flexibility provides mayors with a variety of options to finance projects that rebuild or improve public infrastructure. Of the more than 5,000 NMTC projects to date, the NMTC Coalition has identified more than 500 projects (10 percent) that involve the direct financing of infrastructure, including:
- 397 new or rehabilitated schools
- 92 transportation, freight, parking, or public transit projects
- 26 public waste management or recycling facilities
- 8 projects rebuilding or enhancing port facilities
- 6 waterwater treatment projects
- 5 rural broadband expansions
Indirect infrastructure financing
Because many NMTC projects are enormous, multi-faceted redevelopment efforts, it is difficult to pinpoint the exact dollar figure that supports infrastructure. About half of NMTC projects include Community Benefits Agreements, and these agreements often require NMTC-financed businesses to support street-scape improvements, road and utility investments, and other secondary infrastructure spending.
Other than direct financing, another way the NMTC indirectly supports infrastructure is by building and stabilizing the tax base for cash-strapped municipalities. As the NMTC Coalition has documented, the program generates hundreds of millions in state and local tax revenue each year. Cities, counties, and towns can put this new revenue back into schools, roads, and other improvements.
Below find a collection of infrastructure stories. We plan to update this page regularly, so please send your stories to firstname.lastname@example.org.
"Concrete, steel and fiber-optic cable are the essential building blocks of the economy. Infrastructure enables trade, powers businesses, connects workers to their jobs, creates opportunities for struggling communities and protects the nation from an increasingly unpredictable natural environment. From private investment in telecommunication systems, broadband networks, freight railroads, energy projects and pipelines, to publicly spending on transportation, water, buildings and parks, infrastructure is the backbone of a healthy economy."
Laguna Water and Wastewater Infrastructure Project
Lake Point Reclamation