New Markets Tax Credit Program
We invest in community service-focused projects with the potential to transform low-income communities. These projects are typically located in “targeted distress” census tracts where the poverty rate is 20% or higher, or the median family income is below 80% of the Area Median Income.
Focused on Those who Need Help Most
Nonprofit Community Facilities
Organizations that provide services often neglected distressed areas, such as education, food, and temporary shelter.
Focused on Native American communities with the goal of generating living wage jobs for tribe members.
Community Health Clinics
Organizations that provide health care and social services that are a vital part of communities' social safety net
What is the New Markets Tax Credit Program?
The New Markets Tax Credit (NMTC) program was established by Congress in 2000 as a bipartisan initiative to encourage investment in distressed, low-income communities. NMTC investors provide capital to community development entities (CDEs), and in exchange are awarded credits against their federal tax obligations. CDEs develop projects that give new life to neglected urban neighborhoods and rural communities, support local business growth, and create jobs in underserved areas.
$487.5 million invested aiding 483,000 people annually (data through 6/30/2023)
Invested in commercial real estate and Native American projects
New or rehabilitated nonprofit community facility spaces financed
Low-income clients on an annual basis
If you are interested in learning more about our New Markets Tax Credit Program, please reach out to Priya Srinivasan at email@example.com.