New Markets Tax Credit

Available Funding
Written By Kevin Klingbeil

Click to view NMTC Fact Sheet

The New Markets Tax Credit (NMTC) Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities. As of the end of FY 2021, the NMTC Program has:

  • Generated $8 of private investment for every $1 of federal funding

  • Construction or rehabilitation of nearly 259.5 million square feet of commercial real estate

  • Creation of retention of more than 894,000 jobs

Historically, low-income communities experience a lack of investment, as evidenced by vacant commercial properties, outdated manufacturing facilities, and inadequate access to education and healthcare service providers. The New Markets Tax Credit Program (NMTC Program) aims to break this cycle of disinvestment by attracting the private investment necessary to reinvigorate struggling local economies.

 
Kevin Klingbeil
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