N000015-3

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 (Through 2023)

  • 27 projects
  • 400,982,571 in NMTC allocation
  • 635,320,997 total project financing
  • 2,053 FTE jobs created or retained
  • 2,309 construction jobs created
  • 7 manufacturing businesses
  • 4 federally qualified health centers

27

projects

$400,982,571

NMTC Allocation

$635,320,997

in total project financing

2,053

FTE jobs

2,309

construction jobs

4

federally qualified health centers

7

manufacturing and industrial businesses supported

NMTC Project Profiles (Inside the District)

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

This $22.4 million project involved the conversion and expansion of the long vacant, historic Kinnell-Kresge building into a state-of-the-art movie house.
The $12 million overhaul of a historic site that has called North Street home for over a hundred years for a YMCA.
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.
NMTC supports growth of Springfield leader in affordable housing, homelessness prevention, job training & financial education.
MHIC's NMTC investment helps finance a new home for the station on Main Street in downtown Springfield.
NMTC financing supported the Hot Mama’s project.
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.
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
New Markets Tax Credit financing for construction of a new, seven story, in-patient medical facility with 126 beds for the Baystate Medical Center.
The complete restoration of a historic theater (built in 1903) that had been closed for 50 years.
Apex Resource Technologies received an infusion of $5 million, giving the company the working capital needed to expand its business and workforce.

Projects Nearby the District

Worcester, MA (2020)

YMCA of Central Massaschusetts

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Worcester, MA (2014)

Telegram and Gazette Building

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Worcester, MA (2013)

Family Health Center of Worcester

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Worcester, MA (2011)

50 Prescott Street

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Worcester, MA (2010)

Plummer Building Rehab

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Greenfield, MA (2009)

Arts Block/Pushkin and Bank Row

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Greenfield, MA (2009)

Hawks & Reed Performing Arts Center

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Projects Nearby the District

Worcester, MA (2020)

YMCA of Central Massaschusetts

View Details

Worcester, MA (2014)

Telegram and Gazette Building

View Details

Worcester, MA (2013)

Family Health Center of Worcester

View Details

Worcester, MA (2011)

50 Prescott Street

View Details

Worcester, MA (2010)

Plummer Building Rehab

View Details

Greenfield, MA (2009)

Arts Block/Pushkin and Bank Row

View Details

Greenfield, MA (2009)

Hawks & Reed Performing Arts Center

View Details