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?
“Words cannot express how appreciative I am for our partners, donors, staff, and local community and the help they have provided over the past five years to arrive at this moment. This project utilizes New Markets Tax Credits, provided by MHIC with Bank of America as the investor, to cover 30% of project costs.”
-Eileen Hayes, Amos House President and CEO
“With a state-of-the-art American industrial footprint, including the ability to build stainless steel car body shells in Hornell, Alstom will be well-positioned to meet our customers’ needs and continue to bring skilled jobs to the Hornell community. This would not be possible without [NMTC] support of organizations like Rural Development Partners.”
-Michael MacDonald, Hornell Managing Director
“We are appreciative of IFF’s support in helping Chicago Commons during Illinois’ unprecedented budget crisis. While our organization has been financially sound and healthy for many years, the past year has called for us to think creatively to weather the financial storm. Partnering with IFF allowed us to keep our doors open without balancing the budget on the backs of our participants, who depend on us every day for early education, family services, and senior care programming.”
-Edgar Ramirez, CEO Chicago Commons, on receiving NMTC financing
“The Center on Civil and Human Rights’ opening is a victory for the city, celebrating its rich history and the connection to today’s challenge – it is a remarkable project that has been in the making for the last decade. The center is now a destination, attracting people from across the United states, and around the world, and the New Markets Tax Credit financing was a critical piece in making it happen.”
-Dale Royal, formerly with Atlanta Emerging Markets, Inc.
“Delco Trailers is a company that has created growth over the past several years by creating excellent products, focusing on the success of our dealer network, and providing quality jobs in the community. This partnership with RDP will help us to continue on that trajectory while having a positive and lasting impact on the community and our partners and customers across the country.”
-John Dyck, Delco Founder & CEO, on receiving NMTC financing
“We don’t know of any project this size in Kentucky history.”
-Congressman Hal Rogers (R-KY) on the NMTC-financed West Liberty Tornado Recovery Project