Within four months of closing on its first New Market Tax Credit (NMTC) Allocation Award with the U.S. Department of Treasury, our organization Central States has closed and/or allocated one hundred percent (100%) of its $45 Million award. The investments made to date will support more than $110.82 Million in project costs, creating 1425 jobs, 360 construction jobs and 222 indirect jobs. Up to 90% of the new jobs created will benefit low-income persons. Projects receiving NMTC allocations serve highly distressed markets in Illinois, Iowa, and Indiana that have exhibited high rates of rent burden, low-median worker rates compared to the area, and high percentages of poverty.
New Markets Tax Credit Coalition
