New Markets Tax Credit

New Markets Tax Credit Coalition Releases 2021 NMTC Progress Report

New Markets Tax Credit, Publications /

The NMTC Funded 272 Projects and more than 45,000 Jobs Across the U.S. in 2020 Washington, D.C. | June 17, 2021 09:00 AM Eastern Daylight Time The New Markets Tax Credit Coalition today released its 2021 New Markets Tax Credit (NMTC) Progress Report, the seventeenth edition of the report—providing analysis of NMTC activities in 2020. The report was prepared by the NMTC […]

New Markets Tax Credit Coalition Releases 2021 NMTC Progress Report Read More »

Midwest Minnesota CDC Grocery Store Project Visited by Treasury Secretary

Blog, Community Economic Development Grants, Food Deserts, New Markets Tax Credit /

On August 8th, 2016, U.S. Secretary of the Treasury Jack Lew visited Seward Community Cooperative Friendship Store, a grocery store in Minneapolis, Minnesota. The store, which is located in a low-income census tract and provides access to healthy, fresh foods, was financed in part by the New Markets Tax Credit (NMTC) and federal Community Economic Development

Midwest Minnesota CDC Grocery Store Project Visited by Treasury Secretary Read More »

Leadership, Legacy and Cardboard Lobsters—Thank you Ron Phillips

Blog, CDFI Fund Program, Community Economic Development Grants, Job Creation, JOLI, New Markets Tax Credit /

Post written by Bob Rapoza A celebration of a retiring leader in the CDC community was held this week. My good friend, Ron Phillips, the founder and president of Coastal Enterprises, Inc. is retiring. While I was not able to attend Ron’s celebration in Maine, I knew it would be quite an event, and a

Leadership, Legacy and Cardboard Lobsters—Thank you Ron Phillips Read More »

NMTC 2013 Progress Report Provides Evidence on Effectiveness of the Credit as a Tool for Driving Capital to Areas of Economic Distress

Blog, Job Creation, New Markets Tax Credit, Publications /

A report issued today by a coalition of community development organizations and financial institutions details how the New Markets Tax Credit (NMTC) transformed private sector capital into patient, flexible capital for credit-starved businesses in low income communities across the country during the previous year.

NMTC 2013 Progress Report Provides Evidence on Effectiveness of the Credit as a Tool for Driving Capital to Areas of Economic Distress Read More »

MMCDC Helps Transform the Ford Center in Detroit Lakes

Historic Preservation, Historic Tax Credit, New Markets Tax Credit /

Transformation of the Ford Center from dilapidated warehouse-style building to upscale office complex was a significant community development feat in Minnesota. It combined two federal tax credits –New Markets and Historic – with other financing to reinvigorate the old Ford Motor assembly plant for its next 95 years of service.

MMCDC Helps Transform the Ford Center in Detroit Lakes Read More »

NMTC Investment Creates 350+ Manufacturing Jobs In Hard Hit Wisconsin Town

Blog, Job Creation, New Markets Tax Credit /

The project entails the expansion of a major Superior area employer—Exodus Machines, Inc. Exodus Machines produces wheeled material handlers for the scrap and recycling industry. Exodus began operations in 2008 and was funded with equity from an ownership group and financing which included New Markets Tax Credits through a transaction Impact Seven brokered.

NMTC Investment Creates 350+ Manufacturing Jobs In Hard Hit Wisconsin Town Read More »

Rural Kentucky College Uses NMTCs to Address Region’s Shortage of Health Professionals

New Markets Tax Credit, Rural Economic Development /

[box] Jobs Created: 50 construction, 102 permanent, student and work study employment[/box] The University of the Cumberlands is located in Williamsburg, Kentucky, a rural community nestled in the foothills of the Appalachian Mountains. The University spans approximately 70 acres and includes 34 buildings, including 2 sports field complexes. It has an enrollment of 2,169 students

Rural Kentucky College Uses NMTCs to Address Region’s Shortage of Health Professionals Read More »