NMTC Coalition Annual Report: Surveyed CDEs Completed Projects that Generated More than 50,000 Jobs in 2021
Surveyed community development entities (CDEs) using new markets tax credits (NMTCs) completed 277 projects that generated 52,718 jobs in 2021, according to the 2022 New Markets Tax Credit Progress Report, prepared by the NMTC Coalition. The organization has surveyed CDEs about their activity annually since 2005. Highlights of the 2021 report include that the 277 projects totaled $6.1 billion in investment and received $3.2 billion in NMTC allocation; projects were in 47 states and territories; 86% of projects were in severely distressed communities; a record 31% of NMTC financing went to non-metropolitan counties and the median equity price reported was 74 cents per dollar of credit.
The Novogradac New Markets Tax Credit Handbook is a definitive guide to the NMTC, from application and financing to development and compliance.