What is NMTC?


The New Markets Tax Credit Program (NMTC) encourages private capital investment in economically distressed communities by providing investors with a federal or state tax credit. Capital made available through NTMC programs is used to finance job-creating businesses located in underserved, low-income communities.

As a result of the federal program’s success, a number of states have enacted state-level New Markets programs. When paired with the federal program, state NMTCs have a greater economic impact on their local communities.

Impact of the Federal NMTC Program


Between 2003 and 2015, $43.5 billion in direct federal NMTC allocation was made to businesses across the nation. As a result, this activity has produced the outcomes below:

• Supported nearly 750,000 jobs
• Leveraged close to $70 billion in total capital investments
• Financed over 4,700 businesses

State Impact


To date, 14 states – Alabama, Arkansas, Florida, Illinois, Kentucky, Louisiana, Maine, Mississippi, Missouri, Nebraska, Nevada, Ohio, Oregon, Utah – have enacted their own New Markets Investment Program. Other states have taken notice of the State New Markets Initiative due to the program’s runaway success.

LL NMTC States.

AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC