NMTC Coalition Celebrates 15th Anniversary of the NMTC
On this day 15 years ago, President Bill Clinton celebrated the signing of H.R. 4577, appropriations legislation that include…
Statement of New Markets Tax Credit Coalition on the PATH Act
The New Markets Tax Credit Coalition, a national membership organization of Community Development Entities, trade associations, investors, and businesses, commends Congressional leaders for assembling
Senator Roy Blunt (R-MO)
“The New Markets Tax Credit Program has a history of success nationwide and this extension is a huge step in the right direction. In Missouri, the NMTC has made a real difference in economically distressed communities, including financing for the first new grocery store in the Pagedale community in 40 years, expanding and helping improve […]
Senator Chuck Schumer (D-NY)
“This long-term extension of the New Markets Tax Credit (NMTC) Program is a major win for community revitalization, job creation, and economic development throughout New York State. The NMTC Program has already provided critical funding to important projects throughout New York, like the expansion of Roswell Park Cancer Institute’s Clinical Sciences Center in downtown Buffalo. […]
Congressman Richard E. Neal (D-MA)
“The New Markets Tax Credit (NMTC) spurs economic development, encourages private investment, and creates jobs. This important and popular initiative has generated more than $70 billion in capital for projects in economically stressed areas across the United States. It produces substantial investment in struggling communities that otherwise would be ignored. That is why I remain […]
Congressman Tom Reed (R-NY)
“We care about making sure smaller cities and rural areas, like the areas we represent, have access to the capital and investments necessary for their community and residents to thrive. It’s only fair they have access to the resources they need and the NMTC is helping to fill this gap. Look no further than Hornell, […]
Congressman Pat Tiberi (R-OH)
“The New Markets Tax Credit is a powerful tool that uses public-private partnerships to revitalize economically stressed areas and encourage job creation. In Ohio alone, the tax credit has helped create more than 30,000 construction jobs and 12,000 full-time jobs. I’ve seen first-hand the positive impact the projects financed through the NMTC program have in […]
Senator Ben Cardin (D-MD)
“The New Markets Tax Credit (NMTC) spurs economic development, encourages private investment, and creates jobs. This important and popular initiative has generated more than $70 billion in capital for projects in economically stressed areas across the United States. It produces substantial investment in struggling communities that otherwise would be ignored. That is why I remain […]
NMTC Leaders Applaud 5-Year Extension of Community Development Tax Credit
NMTC Leaders Applaud 5-Year Extension of Community Development Tax Credit. Late last night, Congressional leaders and the White House came to an agreement on a tax extender deal, which includes
NMTC Community Development Leaders Meet on Heels of Tax Extenders Legislation Introduction in the House
Today and tomorrow, the New Markets Tax Credit Coalition is holding its Annual Conference, drawing community development experts from around the country. The conference will take place at the Hotel Mo
NMTC Coalition Writes to Incoming Ways & Means Chairman Kevin Brady
Dear Chairman Brady, The New Markets Tax Credit (NMTC) Coalition and its members would like to congratulate you on your new p…
Changes in the 2015 NMTC Application
Today the CDFI Fund released the 2015 NMTC Application. Below are a few of the changes we’d like to highlight: Restrictions o…
Lake Mead Christian Academy Project Part of a Surge in NMTC Activity in Nevada
Earlier this month, Clearinghouse CDFI and Lake Mead Christian Academy celebrated the groundbreaking of their new H…
NMTC Brings Hundreds of Jobs to Rural North Carolina
Rooms To Go, the nation’s leading independent furniture company, cut the ribbon for its huge new Super Center on Saturday, Oc…
San Jose Educare Project Shows the Importance of the NMTC for Nonprofits and Community Facilities
On Friday, October 16th, Educare of California at Silicon Valley (“ECSV”) and Opportunity Fund will celebrate the recent open…
The NMTC as a Disaster Assistance Tool
The New Markets Tax Credit was an important tool for revitalizing the areas devastated by Hurricane Katrina
Bipartisan Support for Federal New Markets Tax Credit Grows
Senate Finance Committee Includes Extension and Inflation Adjustment for NMTC –The Senate Finance Committee takes up tax extenders today, including action on the New Markets Tax Credit (NMTC). Signali
Bipartisan Letter Signed by 55 House Members Urges Action on Federal New Markets Tax Credit
A letter in support of the federal New Markets Tax Credit, signed by a bipartisan group of 55 Members of the House of Representatives, was sent to the Committee on Ways and Means today. The letter, le
US Conference of Mayors Considering Resolution Supporting the New Markets Tax Credit
The 83rd Annual Meeting of the US Conference of Mayor s begins today in San Francisco, CA, and the fate of the New Markets Ta…
NMTC Helps Dessert Manufacturer Create 80 Jobs in Greenville
Greenville New Markets Opportunity II, a community development entity managed by the Tax Advantage Group and the Greenville L…
Senators Stabenow, Peters Announce Multi-Million Dollar Tax Credit Allocations to Support Economic Development in Michigan
Senators Debbie Stabenow, a senior member of the Senate Finance Committee, and Gary Peters yesterday celebrated a $55 mi…
Treasury’s CDFI Fund Announces 2014 NMTC Awards
The U.S. Department of the Treasury’s CDFI Fund announced the Calendar Year 2014 New Markets Tax Credit (NMTC) allocation awards today. In the announcement, CDFI Fund Director Annie Donovan noted, The
Recap of the 2015 NMTC Policy Conference
In case you missed it, here’s a recap of the New Markets Tax Credit Coalition’s 2015 Policy Conference, all via Twitter:…
NMTC Progress Report Released
New NMTC Report and Video Demonstrate Impact of Expired Federal Tax Credit in Distressed Communities– A new report on the New Markets Tax Credit (NMTC) indicates the federal tax credit was responsible
Reps. Turner and Fattah Circulating NMTC Sign-on Letter
Congressmen Mike Turner (R-OH) and Chaka Fattah (D-PA) are circulating a sign-on letter urging timely Congressional action on…
Over 1,600 Call on Congress to Make New Markets Permanent as Tax Reform Heats Up
Businesses, investors and organizations sign letter urging Congress to extend the expired community and economic development tax credit before they leave Washington – Building on two solidly bipartisa
The New Markets Tax Credit in Baltimore
Federal community development spending, as a share of GDP, has fallen by over 75 percent over the past 30+ years. Gap financi…
Statement on the Portland Press Herald NMTC Article
On Sunday, April 26, the Portland Press Herald ran the second article in its two-part series on the Maine New Markets Capital Tax Credit. The two articles question many of the aspects and investm
NMTC Coalition Submits Comments to Tax Reform Working Group
Yesterday, April 15, was the deadline for the Senate Finance Committee Tax Reform Working Groups. The New Markets Tax Credit…
National Journal Article on Tax Credits Aimed at Helping Middle Class and Low Income People
A statement by Bob Rapoza, spokesperson for the NMTC Coalition: I read with interest the National Journal article today on th…
New Senate Bill Echoes House and Administration Calls for New Markets Tax Credit Permanency
Senators Roy Blunt (R-MO) and Chuck Schumer (D-NY) circulated a Dear Colleague today, asking their colleagues to cosponsor ne…
New Markets Tax Credit Driving Downtown Cincinnati Revitalization
The New York Times wrote about the recovery of downtown Cincinnati, and the Over the Rhine neighborhood in pa…
House Bill Would Make New Markets Tax Credit Permanent
Three members of the House Ways and Means Committee, including Congressmen Pat Tiberi (R-OH), Tom Reed (R-…
Historic Westside School First Project Funded by Las Vegas CIC’s NMTC Allocation
Funding Will Help Cover Costs Of Renovating City’s First Grammar School In West Las Vegas The Historic Westside School was bu…
Rochester Continuum of Care Joint Facility, Rochester, Minnesota
In 2013, Midwest Minnesota Community Development Corporation and US Bancorp Community Development Entity financed of the acqu…
Coalition Releases “A Decade of the NMTC”
A new report by the New Markets Tax Credit Coalition shows the economic impact of the NMTC between 2003 and 2012. The program created nearly three-quarters of a million jobs in rural and urban communi