Today, Representatives Tim Ryan (D-OH), Jimmy Panetta (D-CA), Sharice Davids (D-KS), Peter DeFazio (D-OR), Trent Kelly (R-MS), and Jim Costa (D-CA) signed on as cosponsors of the NMTC Extension Act of 2019 (H.R. 1680). That brings us to 74 cosponsors plus Terri Sewell (D-AL). Below are some project examples from these members’ districts.
Tim Ryan (D-OH)
Renovation of the Youngstown YMCA
“What we’re able to do through the tax credit is provide construction jobs retain jobs in the city and be part of the renaissance of downtown Youngstown,” says YMCA CEO Tim Hilk. The project creates 19 permanent full time jobs and 50 construction jobs.
Jimmy Panetta (D-CA)
Salud Para la Gente
Salud Para la Gente, a Federally Qualified Health Center in Watsonville, which provides high-quality, comprehensive, and cost-effective healthcare to its patient population of primarily Latino farm workers and low-income residents in the area. Northern California Community Loan Fund provided $8.6 million in NMTC financing to Salud Para la Gente to renovate and expand its main clinic in Watsonville, CA. The renovations added over 7,000 square feet of new space and 13 new medical exam rooms, one procedure room and four dental clinics.
Sharice Davids (D-KS)
El Rio Bravo Supermarket
El Rio Bravo Supermarket: Business financing for a grocery store in a severely distressed census tract with a poverty rate of 36%. Preserved 65 jobs and created 10 new full-time positions.
Peter DeFazio (D-OR)
Swanson Group Rebuild
NMTC financing helped the Swanson Group, a timber producer, rebuild a wood plant that was destroyed by a fire, displacing 250 workers.
Trent Kelly (R-MS)
Economic Development Partners Announce Major Revitalization Project in Fulton, Mississippi
Mueller Copper Tube is a global manufacturer and distributor of premium quality copper tube and pipe for plumbing, air conditioning, refrigeration, medical gas and other applications. Mueller is using NMTC financing to purchase equipment and expand its existing production facility in Fulton.
Jim Costa (D-CA)
Fresno Rescue Mission – Women’s and Children’s Shelter
The Fresno Rescue Mission (FRM) is a 501(c)(3) non-profit that serves impoverished families and neglected and abused children in the Central Valley. FRM’s Rescue the Children project transformed a rundown 108-unit motel into 68 units of housing and supportive services for homeless women and their children.