We asked organizations to tell us why the NMTC is important to their organization or community. Below is a sampling.
Why is the New Markets Tax Credit Important to Your Community?
As a proud women-owned company, we’re dedicated to delivering groundbreaking product innovation and value. This new facility is a one-stop-shop for all packaging needs from concept to production and will provide our customers a powerful competitive advantage.
-Helga Arminak, CEO of APackaging Ohio
I am a Developer who’s primary focus is underserved communities. To date, my organization has created over $90M worth of new investments in communities that have been historically disinvested. Without NMTC’s none of these project would have been possible.
-Kevin Bryant, Kingsway Development, St. Louis, Missouri
NMTC’s are a tremendous tool to create needed neighborhood investment.
-Lance Henning, Habitat for Humanity, Greater Des Moines, Des Moines, Iowa
NMTC provides critical gap funding for difficult to finance real estate projects.
-Joseph Summers, Urban Action Community Development LLC, Baltimore, Maryland
NMTC Program is a unique economic development tool to incent new investment in underserved economically distressed area. It is a valuable incentive to assist a local developer to invest in the redevelopment of Jacksonville’s Historic National Guard Armory Building. Built in 1916 and abandoned in 2010.
-Joe Whitaker, Office of Economic Development, City of Jacksonville, FL
NMTC makes many significant projects happen in rural communities that just would not be possible without it. With so many vulnerable and underserved people living in our rural places, the impact one NMTC project can create is unmatched by any other federal program.
-Joe Bartmann, Dakota Resources, Renner, SD