NEW MARKET TAX CREDIT Benefits
The 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
- Created nearly 239 million square feet of manufacturing, office, and retail space
- Financed more than 10,800 businesses