Featured:

Pat Leahy (D-VT)

Tax Staffer: Jeff Van Oot, [email protected] (Updated: 04/29/2021)

Testimonials

The NMTC allowed us to build a YMCA in one of Raleigh’s poorest communities. Because of the Y’s commitment to enter the market, we also attracted a new public school, 120 affordable housing unit’s and are in the planning phase of commercial development to bring jobs and job training to this campus. Non of that would have happened without NMTC.

-Bryan Huffman, Chief Financial Officer, YMCA of the Triangle Area, Inc., Raleigh, North Carolina

The NMTC program is the best example of a public-private partnership. It provides financial incentive and benefit to investors while serving communities that would otherwise never receive these investments. It creates jobs, which stabilizes and improves communities thereby reducing the burden of public assistance in areas without options. It provides benefit to constituents who value public social programs and to those who value self-sufficiency. There are not many programs – or topics – that can have that level of appeal to all interested parties. The program is a win-win-win. It helps America to grow and thrive.

-Debra Shoaf, Chief Financial Officer, Atlanta Community Food Bank

The NMTC means inclusion, mobility, growth, opportunity and equity fostered out of the developments and programing of NMTC community and economic revitalization efforts.

-Leonard Adams, President and CEO, Quest Community Development Org, Atlanta, Georgia

Now more than ever, we find the only sure way out of institutional poverty is through home ownership, the building of equity within the existing free market system. The New Markets Tax Credit program achieves that goal by providing much needed funding to physically build homes for hard working families within qualifying census tracts. This money goes directly from the closing of the transaction into the construction of these homes. Families work alongside volunteers to build their homes, they are provided with a mortgage calibrated to their income, and they pay for their homes over a 25 to 30 year period. This economic and tenure security changes the lives of both current and future generations, thus leveraging up the value of the New Markets Tax Credit investment. We urgently request a permanent extension of the NMTC, and additional allocation of funds to continue the transformational work this program makes possible.

-John Desmond, Greater Charlottesville Habitat for Humanity, Inc., Charlottesville, Virginia

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District Highlights

NMTC Project Profiles (Inside the District)

2022

Holland, MI

Tommy Car Wash Systems will expand its manufacturing capacity by constructing a new headquarters and manufacturing facility with $13…
2021

North Highlands, CA

The Project consists of the development of a 20,000 sq. ft. relocation/expansion of Elica’s existing North Highlands Center….
2021

Cincinnati, OH

The Keyer Row development consists of six contiguous properties located on Main Street in the Over-the-Rhine neighborhood in the…
2021

West Monroe, LA

A $2.75 million investment in West Monroe-based cookie dough and confectionary distributor, Neighbor’s Cookies….

State Fact Sheet