New Markets Tax Credit (NMTC)

The New Markets Tax Credit (NMTC) is a federal program designed to encourage investment in low-income communities. It provides tax credits to investors who fund projects in these areas, such as small businesses, community facilities, or real estate developments. Investors receive a tax break over seven years, which helps make it financially attractive to support underserved regions. The goal is to stimulate economic growth and create jobs in communities that typically have less access to capital. The NMTC program aims to enhance the quality of life and promote sustainable development in economically challenged areas.