Recently, the New Markets Tax Credit Coalition (NMTC) released its 2017 NMTC Progress Report, their annual report that documents the impact of the NMTC program.
The report highlights the trends and investments of the NMTC Program and provides a survey of NMTC activities in 2016. It documents the flexibility and impact of the NMTC in meeting the needs of distressed communities where it is deployed and in helping create jobs and grow business opportunities.
According to the NMTC Coalition, 87 enterprises used $1.8 billion in credits to finance 171 projects in 2016, helping to create over 36,000 jobs in cities, suburban and rural areas plagued by high poverty and unemployment. The results of the last year of NMTC projects surpassed all previous years’ results.
The overall goal of the NMTC Coalition is to deliver billions of dollars to businesses in order to create jobs and rejuvenate parts of the country that have been left behind.
Read more about the organization and the NMTC Progress Report here.