Annual NMTC Report: CDEs Surveyed Used $2.7 Billion in Allocation to Finance 288 Investments, Created 57,000 Jobs

Wednesday, July 1, 2020 - 3:45pm

The New Markets Tax Credit Coalition today released the 2020 New Markets Tax Credit (NMTC) Progress Report, a survey of 65 community development entities (CDEs). The CDEs reported using $2.7 billion in NMTC allocation in 2019 to finance 288 investments that amounted to $4.5 billion in project investment to low-income communities and 1.7 million people served. The financing resulted in 57,414 jobs, 35,440 of them permanent. This was the 16th edition of the report.