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State NMTC Programs

Oregon New Markets Tax Credit

In 2011, Oregon established the Oregon Low Income Community Jobs Initiative, also known as the Oregon New Markets Tax Credit program. This program was created to attract capital in low-income and underserved communities.

The Oregon New Markets Tax Credit program offers tax credits to investors who support businesses in the state’s federally designated low-income areas.

Similar to the federal New Markets Tax Credit (NMTC) program, Oregon NMTCs are designed to encourage job growth and retention in communities that historically aren’t served by traditional sources of investment capital. Without this program in place, Oregon’s low-income areas would have less investment, fewer jobs, decreased tax revenues, reduced access to social services and less vibrant communities.

Since launching, the program has been a success across the state and has attracted more than $200 million in private investment. This has resulted in 2,132 jobs created or retained, positively affecting more than 30 communities through 37 projects across the state.