Last week, Senators Wicker (R-MS), Warner (D-VA), Capito (R-WV), and Cardin (D-MD) joined Representatives Sewell (D-AL) and Smith (R-MO) to introduced the Rural Jobs Zones Act of 2019 (H.R. 3538 and S. 2028). The legislation would provide two years and $1 billion in additional NMTC allocation targeted to low-income rural areas, with a 25 percent […]
Yesterday, the NMTC Extension Act of 2019 added 7 new cosponsors. Please take a moment to thank these offices for calling for a permanent, expanded New Markets Tax Credit.
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 […]
One Hope United’s Joliet Early Learning Center One Hope United’s (OHU) Joliet Early Learning Center will open in March, thanks to an Illinois state grant and $15 million in new markets tax credits. This new center is one of 12 One Hope United early childhood education programs in the Chicago metropolitan area offering a safe, […]
Small business incubator, training center opens on St. Paul’s East Side Dayton’s Bluff Neighborhood Housing Services of St. Paul, in partnership with Neighborhood Development Center (NDC), opened a small-business incubator and training center in the summer of 2017 at 809 E. Seventh St. The primary focus is minority neighborhood entrepreneurs who own small and start-up […]
“There is more we ought to be doing. One thing we could have that a lot of small businesses could really benefit from is the New Markets Tax Credit Program. This is a program that was first authorized in 2000. It encourages investment in high-poverty areas or in low-income areas. Again, in Missouri, 42,000 new […]
NMTC Coalition Executive Committee member Kevin Goldsmith has a piece in the latest issue of the Novogradac Journal of Tax Credits on the NMTC’s growing presence in rural communities: The New Markets Tax Credit (NMTC) program continues to expand its scope to serve the most distressed communities across the United States. Initially left behind in […]
Construction expected to be finished this summer Thanks to the recent closing of a tax credit transaction, the Santa Barbara Rescue Mission (SBRM) netted $1.7 million for its Mission of Hope campaign, leaving only $381,800 to raise to fully fund the $11.9 million remodel of its Yanonali Street facility.
Today Senator Daines (R-MT) is touring the future site of the Billings Family Service headquarters. The new facility is receiving NMTC-financing from MoFi. Learn more from KURL8. Features of the new facility include: Tripling square footage resolving safety and efficiency issues Expanded food box program for families,seniors and individuals Creation of job training services Expanded […]