The New Markets Tax Credit program

The New Markets Tax Credit (NMTC) program is a federal initiative designed to stimulate economic growth in underserved communities. It provides tax incentives to private investors who put money into community development projects, such as affordable housing or local businesses. These investments aim to create jobs and improve infrastructure in low-income areas. In exchange for their investment, taxpayers receive credits against their federal income taxes, making it financially attractive. The program helps bridge the gap between capital and communities that need it most, fostering economic revitalization and greater access to opportunities.