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 NMTC activities in 2017. As in the past, the report documents the flexibility and importance of the NMTC in meeting the needs of the distressed communities where it is deployed and helping to create jobs and grow business opportunities, from more traditional industry and community sectors to new and cutting-edge technology. Despite considerable uncertainty associated with legislative battles on Capitol Hill in 2017, demand by investors remained at record levels despite the uncertainty of tax reform.
“The report findings show that the competition for credits is fierce, and continues to drive efficiency, investment and jobs,” said Kermit Billups, NMTC Coalition president and executive vice president of Greenline Ventures. “Last year’s projects, once again, raised the bar even higher. We’re happy to report the NMTC helped create 60,000 jobs through $5.8 billion in total project investment.”