Richard Neal (D-MA01)

Tax Staffer: Kara Getz, kara.getz@mail.house.gov.

"
The New Markets program plays a significant role in financing many vital businesses and community projects that are overlooked by traditional lending markets. It helps to breathe new life into our neglected and underserved low-income communities. We’ve leveraged these funds to preserve and create jobs, and to build successful businesses….[In my district], the amount of good that these projects have done for the community cannot be understated: hundreds of millions of dollars in investment and thousands of jobs.
"

-Richard Neal (D-MA01)

District Highlights

28 projects
415,282,571 in NMTC allocation
650,820,997 total project financing
2,192 FTE jobs created or retained
2,332 construction jobs created
7 manufacturing businesses
4 federally qualified health centers

28

projects

$415,282,571

NMTC Allocation

$650,820,997

in total project financing

2,192

FTE jobs

2,332

construction jobs

4

federally qualified health centers

7

manufacturing and industrial businesses supported

NMTC Project Profiles (Inside the District)

River Valley Co-op

Northampton,
MA
(2020)

Community, Grocery and Fresh Food, Retail, Retail and Commercial, Shelters and Community Food

CDE(s): Capital One, Evernorth Rural Ventures, MHIC, National Community Investment Fund

NMTC financing totalling $7.24 million supported the ground up construction of a 23,000 sq. ft. cooperative grocery store known as River Valley Co-op in Easthampton, MA, a USDA designated Food

Food Bank of Western Massachusetts

Chicopee,
MA
(2022)

Shelters and Community Food

CDE(s): Evernorth Rural Ventures, Mascoma Community Development

The project consists of the acquisition of land and construction of a new 63,000 sq. ft. headquarters building with warehouse, office, training, and support spaces. The project design includes 33,000

Way Finders Housing Center & Headquarters

Springfield,
MA
(2018)

Adult Education, Affordable Housing, College or Vocational Training, Community, Mixed-use, Nonprofit Hub, Shelters and Community Food, Vocational Training

CDE(s): Capital One, Evernorth Rural Ventures, MHIC

NMTC supports growth of Springfield leader in affordable housing, homelessness prevention, job training & financial education.

Educare Springfield

Springfield,
MA
(2018)

Community, Daycare and Early Childhood, Healthcare, Youth and Families

CDE(s): MassDevelopment

NMTC financing for the first Educare school in Massachusetts, serving 141 Head Start-eligible young children and their families with a full-day, year-round early education program.

Pittsfield YMCA

Pittsfield,
MA
(2021)

Community, Daycare and Early Childhood, Recreation, YMCAs and YWCAs, Youth and Families

CDE(s): CRFUSA

The $12 million overhaul of a historic site that has called North Street home for over a hundred years for a YMCA.

Springfield Prep Charter School

Springfield,
MA
(2020)

Community, Schools

CDE(s): Civic Builders

Finances the renovation and expansion of a vacant 43,515-sq. ft., single-story office building on 4.31 acres, repurposed into a K-8 school.

Hot Mama’s

Springfield,
MA
(2006)

Business Development, Food Manufacturing, Manufacturing

CDE(s): MassDevelopment

NMTC financing supported the Hot Mama’s project.

Caring Health Center – Richard E. Neal Complex

Springfield,
MA
(2012)

Community, Dental Services, FQHCs, Healthcare, Historic Rehabilitation

CDE(s): Building America CDE, MHIC

The Caring Health Center project was the rehabilitation and adaptive reuse of three contiguous buildings in the Smith Carriage Company Historic District of Springfield, which improves healthcare in a medically

Apex Resource Technologies

Pittsfield,
MA
(2009)

Business Development, Manufacturing, Plastics and Chemicals

CDE(s): MHIC

Apex Resource Technologies received an infusion of $5 million, giving the company the working capital needed to expand its business and workforce.

Massachusetts Green High Performance Computing Center

Holyoke,
MA
(2011)

Mixed-use, Science and Tech

CDE(s): Affirmative Investments, Building America CDE, CDF Development (Cordish), MassDevelopment, Urban Research Park CDE

Finaning for the Massachusetts Green High Performance Computing Center, New England's first high performance computing center.

Holyoke Health Center

Holyoke,
MA
(2005)

Community, Dental Services, FQHCs, Healthcare, Historic Rehabilitation

CDE(s): MHIC

The first transaction of its kind in the country combined a Federal loan guaranty program for health centers and the NMTC became a prototype for other community health facilities nationwide.