New Markets Tax Credit Coalition Report Highlights Impact on Jobs and Investment in Rural Communities
The New Markets Tax Credit (NMTC) Coalition, representing 150 finance and community development experts and practitioners nationwide, released a report detailing an unprecedented level of private investment in rural communities around the United States. The NMTC has helped rural communities increase healthcare access, financing 107 rural healthcare facilities or clinics, totaling nearly $800 million in project costs between 2003 and 2014.
“The New Markets Tax Credit has a long track record of delivering capital to our country’s most economically distressed urban and rural communities. In recent years, the credit’s rural impact has been especially important with increasingly diminished economic opportunity due to inadequate access to capital, depressing those local economies and leading to high unemployment levels,” said Robert W. Davenport, NMTC Coalition president and special advisor to the National Development Council. “As a result, the NMTC has become a big deal for rural America–creating tens of thousands of jobs, financing over 800 businesses and facilities, and boosting local economies.
For more information on the New Markets Tax Credit and details of the latest report, click HERE.
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