- Between 2003 and 2012, investments in NMTC businesses totaled $63 billion, of which 50% was generated from sources other than NMTC direct investments;
- Between 2003 and 2012, NMTC investments generated 750,000 jobs;
- Between 2003 and 2012, NMTC investments generated over 120 million square feet of manufacturing, retail, and community space in low income communities;
- Between 2003 and 2012, the NMTC cost the federal government about $8 billion in lost revenue to generate $63 billion in investment in NMTC businesses – a leverage of approximately 8 to 1;
- 100 percent of all NMTC investments were made in low income communities with poverty rates of at least 20% or median incomes at or below 80% of the area median;
- Over 72 percent of all NMTC investments were made in communities with severe economic distress- poverty rates of at least 30%, incomes at or below 60% the area median, and unemployment rates 1.5 times the national average.
- In 2012 alone, investments in NMTC businesses totaled $8 billion, of which 50% was generated from sources other than NMTC direct investments;
- The New Markets Tax Credit generates economic activity, providing a return on investment to the federal government. In 2012, NMTC-financed businesses generated $984 million in federal tax revenue which more than covered the estimated $800 million cost of the Credit in terms of lost tax revenue in 2012.
- According to a GAO study (2007), 88% of NMTC investors would not have considered investing in a project without the NMTC; and
- The NMTC expires on December 31, 2019. The New Markets Tax Credit Extension Act of 2015 (HR 855), introduced by Reps. Tiberi (R-OH), Neal (D-MA), and Reed (R-NY), would extend the NMTC indefinitely. Senators Blunt (R-MO), Schumer (D-NY), Daines (R-MT), and Cardin (D-MD) introduced S. 591, which is nearly identical to its House counterpart.
Browse our video vault, featuring case studies, Congressional testimony, hearings, and events.
Browse our NMTC Project Map, which includes stories and jobs data for NMTC projects in all fifty states and the District of Columbia.
How It Works
Our new video describes how the NMTC delivers capital to businesses and important projects in low income communities: