NMTC Coalition Report: NMTC Created 58,000 Jobs in 2018

Thursday, July 18, 2019 - 9:15am

The New Markets Tax Credit (NMTC) Coalition today released its annual report on the NMTC, which includes a survey of community development entities (CDEs). The “New Markets Tax Credit Progress Report” says that the surveyed CDEs used $3.2 billion in NMTC allocation in 2018 to finance 286 developments in 48 states, Puerto Rico and the District of Columbia, with $61 billion in investment to low-income communities. The report said more than 58,000 jobs were created, including nearly 33,000 permanent, full-time positions. More than 70 CDEs participated in the survey.