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Annual NMTC Progress Report Shows Big 2016

Thursday, June 8, 2017 - 12:00PM

New markets tax credit (NMTC) projects provided 36,000 jobs and created $3 billion in investment costs in 2016, according to the NMTC Coalition’s 2017 New Markets Tax Credit Progress Report. The report, released Wednesday, provides a summary of NMTC activities in 2016 and is based on a survey of community development entities (CDEs) on the deployment of their NMTC allocation, investor trends and other community impact metrics. The report also found that last year 76 percent of projects were in severely distressed communities, which exceeds requirements.

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