A New Markets Tax Credit Coalition report marks the first ten years of what has been called the most important Federal resource for community development in three decades. Some highlights from the report:
- Over 61% of NMTC investments are made in communities with unemployment rates exceeding 1.5 times the national average
- 57% of NMTC investments are in communities with poverty rates exceeding 30%
- 60% of NMTC investments are in places where median incomes are at or below 60% of area median
- NMTC-financed projects have created or retained up to 500,000 jobs, at a cost to the federal government of less than $12,000 per job