The New Markets Tax Credit Program (NMTC Program), established in 2000, helps economically distressed communities attract private capital by providing investors with a federal tax credit. Investments made through the NMTC Program are used to finance businesses which breathe new life into neglected and underserved low-income communities.
Through the NMTC Program, the CDFI Fund allocates tax credit authority to Community Development Entities (CDEs) through a competitive application process. CDEs are financial intermediaries through which private capital flows from an investor to a qualified business located in a low-income community. CDEs use their authority to offer tax credits to investors in exchange for equity in the CDE. Using the capital from these equity investments, CDEs can make loans and investments to businesses operating in low-income communities on better rates and terms and more flexible features than the market. In exchange for investing in CDEs, investors claim a tax credit worth 39% of their original CDE equity stake, which is claimed over a seven-year period.
The NMTC Program has supported a wide range of businesses including manufacturing, food, retail, housing, health, technology, energy, education, and childcare. Communities benefit from the jobs associated with these investments, as well as greater access to community facilities and commercial goods and services.
To learn more about the New Markets Tax Credit Program overall, please use this link to the CDFI site.
| NMTC | Contact Name | Contact Email | Contact Phone | Eligible Project Types |
|---|---|---|---|---|
| DV Community Investment | Tara Krebbs | tkrebbs@dudleyventures.com | -- | manufacturing/distribution that are large job creators; multi-service community facilities; innovative technology |
| Three Roots Capital | Chris Miller | chris@3rootscapital.org | 865-220-1716 | industrial, manufacturing, commercial office |
| New Markets Loan Program | Jessica Firmstone | jessica.firmstone@wesbanco.com | 304-905-7025 | All industries within our lending footprint. |
| AMCREF Community Capital | Susan Seagren | susan@amcref.com | 504-899-8780 | Manufacturing businesses |
| Stonehenge Community Development | Jonathan Ernst | jcernst@stonehengecapital.com | 614-545-7258 | Stonehenge seeks to finance projects that generate significant economic impacts for local stakeholders. On average, we find that projects in the industrial/manufacturing and healthcare industries yield the highest economic impact utilizing our in-house quantitative methodology. Typical characteristics of high impact projects are those which generate quality job opportunities (living wage/benefits/training/etc) or those which provide critical community goods/services, such as access to healthcare in an underserved area. |
| Advantage Capital Community Development Fund, L.L.C. | Tim Perusek | tperusek@advantagecap.com | 770-880-6037 | Small business financing (industrial/manufacturing/business services) |
| River Gorge Capital | Monica Blanton | mblanton@brightbridgeinc.org | 423-424-4226 | Projects that focus on job creation, rural healthcare, workforce development |
| CV Appalachian Investments CDE | Dan Heffernan | Dheffernan@cvky.org | 502-664-4614 | Business/Industrial |
*The NMTCs contact information was voluntary provided and based upon CDE organizations’ remaining allocation amounts for Kentucky eligible programs.
