New Markets Tax Credit Driving Downtown Cincinnati Revitalization

Yesterday, the New York Times wrote about the recovery of downtown Cincinnati, and the Over the Rhine neighborhood in particular. Although the article does not mention it explicitly, many of the catalytic projects described by the Times would not have been possible without financing provided through the New Markets Tax Credit (NMTC).

Below is a map of some of the projects covered in the piece along with an assortment of other Cincinnati projects. Click a green icon to learn more:

According to the latest data from the CDFI Fund, between 2003 and 2012, the NMTC delivered a total of $474 million in financing to Cincinnati businesses and economic development projects. Community Development Entities using NMTC allocation in Cincinnati between 2003 and 2012 include:

Thanks to NMTC Coalition board member Dave Gibson (PNC Financial Services Group) for alerting us to this article.

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