NMTC Advocacy Week Day 4: History of the Program

In 2020, the NMTC turned 20 years old, and we wrote a report on the history and origins of the program that we thought would be worth revisiting, along with some early projects. This year will be the 20th anniversary of the first NMTC application round in 2002.

NMTC 20th Anniversary Report

The NMTC was authorized 20 years ago as part of a bipartisan effort to jump-start investment and economic growth in low-income urban neighborhoods and rural communities. These areas had experienced a long-term decline, through good economies and bad. Many of America’s small farming towns, urban neighborhoods, and post-industrial suburbs lacked access to the patient capital needed to support and grow businesses, create jobs, and sustain a healthy economy.

Full Report

Early NMTC Projects

2003

Durham, NC

The $12 million in total NMTC financing enabled Scientific Properties, LLC to rehabilitate a deteriorating factory; generate 140 construction…