Below, find recent stories related to the New Markets Tax Credit.
A new local music venue proves that when communities invest in themselves they don’t need to settle for Walgreens and Applebees.
Boston, MA
14-member caucus will support CDFIs and MDIs in their missions to support rural and low-income communities.
Cleveland Development Advisors allocated $5 million in federal NMTCs to the Manufacturing Advocacy and Growth Network (MAGNET) for the build-out of the organization's Midtown headquarters.
- CDEs: Cleveland Development Advisors
- Categories: College or Vocational Training, Community, Vocational Training
Fort Worth-based Rhino Health USA, Inc. today announced the closing of a $58 million New Markets Tax Credit (NMTC) transaction that will help fund the company’s $200 million investment for its large-scale manufacturing expansion in North Texas.
- Categories: Healthcare
By tapping into the NMTC incentive program as an economic development tool to improve areas such as employment, food accessibility and education, communities provide residents with greater access and equity.
- CDEs: Capital One
For 40 years, Ronald McDonald House Charities of Central Ohio (RMHC of Central Ohio) has provided a home away from home for tens of thousands of families, offering home-like accommodations and supportive services designed to ease the burden families face when a child is seriously ill. This summer, as the nonprofit marks the start of its fifth decade in operation, it’s also celebrating the commencement of a massive facility expansion that, once completed in early 2024, will result in the largest Ronald McDonald House of 380 worldwide locations.
- CDEs: IFF
- Categories: Community, Healthcare, Ronald McDonald House
The transaction involved the use of both Historic Tax Credits, as well as NMTC allocation provided by National Trust Community Investment Corporation, a national CDE
- CDEs: National Trust Community Investment Corporation
- Categories: Community, Historic Rehabilitation, Nonprofit Hub
UB Community Development, LLC (UBCD), a community development partner of United Bank, announced today the closing of a $42.5 million New Markets Tax Credit (NMTC) allocation to support the building of the world's largest wood pellet plant in Epes, Alabama. The new project will be located on the Tennessee-Tombigbee Waterway in Sumter County, Alabama.
- CDEs: United Bank of Alabama
- Categories: Business Development, Manufacturing
A groundbreaking development to drive cultural and economic expansion in Los Angeles, a thriving operating business in Indian Country, a bakery in Atlanta that will hire almost exclusively low-income residents and a much-needed facility for an automotive technology program are winners of the 2022 Novogradac Journal of Tax Credits Community Development Qualified Low-Income Community Investments (QLICIs) of the Year honors.
NMTC project turns historic segregated school into community center.
- Categories: Community
NMTC Census Tract Eligibility Data Tentatively Scheduled for an Update in the Spring of 2023
Both organizations are investing more than $100 million into the Norton Healthcare Goodwill Opportunity Campus, a 20-acre site in West...
- CDEs: CAHEC
- Categories: College or Vocational Training, Community, Vocational Training
The New Markets Tax Credit Coalition today released its 2022 New Markets Tax Credit (NMTC) Progress Report[GW1] , the eighteenth edition of the report—providing analysis of NMTC activities in 2021.
With the help of the Northern Forest Center’s Tourism Investment Program and the NMTC Greenville will see new investments.
- CDEs: CEI Capital Management
- Categories: Hotels and Tourism
$20 million NMTC allocation to finance the construction of a new manufacturing and warehouse facility for Tropical Products Inc.’s water-based personal care, home care, and pet care products in Salem, MA.
- CDEs: Mascoma Community Development
- Categories: Business Development
The COVID-19 pandemic caused a pause in the new markets tax credit (NMTC) equity market. But the market has recovered and is now doing quite well.
$18.8M will boost job training and the economic empowerment of individuals with visual disabilities.
West Allis, WI
- Related Project: Beyond Vision VisABILITY Center
- CDEs: PNC
- Categories: Community, Transportation and Ports
Maverick Helicopters is a 25-year-old family-owned helicopter tourism business located in Las Vegas, NV. The New Markets Tax Credit was a “saving grace” to help the business make it through the pandemic without having to sell assets or lay off staff.
Las Vegas, NV
- Related Project: Maverick Helicopters
- CDEs: Advantage Capital
- Categories: Auto Manufacturing
Novogradac’s NMTC Mapping Tool, created to display NMTC eligibility, has been updated to include NMTC project data from the CDFI Fund’s public data release