Blog

WASHINGTON, D.C. (May 23, 2019)– The U.S. Department of the Treasury’s announced the Calendar Year . The CDFI Fund awarded $3.5 billion to 73 Community Development Entities (CDEs) from 35 states, Puerto Rico, and the District of Columbia. “The federal New Markets Tax Credit is a unique and flexible community development tool with a successful track record, attracting investment capital and boosting economic activity in low-income areas,” said Bob Rapoza, spokesman for the NMTC Coalition. “In fact, the NMTC has leveraged an unprecedented level of investment to low-income communities—generating over $90 billion in total capital investment through public-private partnerships that ...
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FOR IMMEDIATE RELEASE ​​​​​​ March 12, 2019 Contact: Ayrianne Parks ayrianne@rapoza.org (202) 393-5225 Bipartisan Call to Make Permanent the Federal Tax Credit that Leverages Private Investment in Economically Distressed Communities, Expands Businesses and Creates Jobs Washington, D.C. March 12, 2019 – Legislation was introduced in the House and Senate to secure the future of the New Markets Tax Credit (NMTC). Congresswoman Terri Sewell (D-AL) and Congressman Tom Reed (R-NY), introduced the House bill. In the Senate, the bill was introduced by Senators Roy Blunt (R-MO) and Ben Cardin (D-MD). The bills, both titled The New Markets Tax Credit Extension Act ...
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Coalition gathers NMTC stakeholders for a policy conference, releases new state statistics WASHINGTON, D.C. (December 18, 2018) — The held its Annual Conference on December 12 and 13 in Washington, D.C. The event featured members of Congress as keynote speakers, and panels on timely community development matters. Attendees were also provided with insights from the Treasury Department and the release of . NMTC Coalition President opened the conference, welcoming speakers and guests. The experienced NMTC practitioner and Greenline Ventures EVP highlighted recent successes and looked to the future of the NMTC Coalition. Keynote speakers at the conference included U.S. Reps ...
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$3 million expansion increases access to medical, dental and behavioral health services to support the area’s growing health care needs August 9, 2019. CONTACTS: Rachel Vliem, Press Secretary, Office of U.S. Senator Mike Enzi, 202-224-3424; Richard Brannan, Director of Wind River Family & Community Health Care, 307-856-9281; Dave Glaser, President, MoFi, 406-529-3352; Mark Evans, VP of Commercial Lending, First Interstate Bank, 307-856-2211 RIVERTON, WY—U.S. Senator Mike Enzi joined Northern Arapaho tribal leaders, city officials, financing partner MoFi, and community members at today’s unveiling of the newly expanded Wind River Family & Community Health Care in Riverton. The grand re-opening event ...
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Be sure to check out our new page highlighting NMTC project visits by members of Congress this summer. We’ll be adding more soon ...
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Don’t miss the Coalition’s new collection of Before and After animations of NMTC projects ...
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The 15th edition of the NMTC Progress Report shows the NMTC continues to grow businesses and create jobs in rural and urban communities left outside the economic mainstream. FOR IMMEDIATE RELEASE — WASHINGTON, D.C. (July 18, 2019) —The New Markets Tax Credit Coalition today released its , the fifteenth edition of the report—providing analysis of NMTC activities in 2018. The report documents the importance of the NMTC in providing patient, flexible capital to businesses and projects located in distressed rural and urban communities, thereby creating jobs and growing business opportunities. The NMTC financing ranges from more traditional industry and community ...
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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 ( and S. ). The legislation would provide two years and $1 billion in additional NMTC allocation targeted to low-income rural areas, with a 25 percent set-aside for persistently poor or high out-migration counties. Learn more at our More Coverage ...
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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 ...
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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 (D-OH) Renovation of the Youngstown YMCA “What we’re able to do through the tax credit is provide construction jobs retain jobs in the city and be part of the renaissance of downtown Youngstown,” says YMCA CEO Tim Hilk. The project creates 19 permanent full time ...
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