Virginia

The Appalachian Region encompasses 423 counties in 13 states. It has the highest concentrations of economically distressed counties in the nation; 25 of the 100 poorest counties and 106 Persistent Poverty Counties (28% of all PPCs in the U.S.) are located here. Of the region’s 25.6 million residents, 42% are rural compared to 20% nationally; 19% are people of color. NMTCs are important economic development tools for regions like Appalachia. The public- private partnerships are critical for supporting redevelopment projects, helping to create/retain jobs, and revitalizing highly distressed communities. To have the greatest impact and to ensure sustainability of projects, the tax credits need to be made permanent.