NMTC Coalition Reports NMTC Created 45,000 Jobs in 2015

Monday, June 6, 2016 - 11:00am

In New Markets Tax Credit Progress Report 2016, released last week, the New Markets Tax Credit (NMTC) Coalition found that the NMTC created nearly 45,000 jobs last year. The annual report surveyed 65 community development entities (CDEs) on their 2015 NMTC activity. Respondents reported that $1.6 billion in qualified equity investments (QEIs) were made last year and 194 businesses and projects received NMTC financing, which resulted in nearly 45,000 jobs created. The NMTC Coalition said that its findings illustrate how the NMTC serves as an effective tool for spurring investments in economically distressed neighborhoods.