- Who We Are
- What We Do
- Our Impact
The New Markets Tax Credit (NMTC) program attracts investment capital into low-income neighborhoods to spur economic growth and community development. We've managed LISC's NMTC program since the creation of the program, closing more than $990 million in NMTC allocation for 129 projects across the country. From Providence to Los Angeles and Chicago to San Antonio, our projects drive investment into low-income communities across the country, creating new jobs for residents, revitalizing neighborhoods, and addressing critical local needs.
NMTC financing overcomes financing obstacles to constructing and rehabilitating facilities in disinvested communities by providing a modest federal tax credit to private investors - helping to breathe new life into empty lots, bring health clinics to medically underserved areas, energize commercial corridors, encourage business development, and more.
Created in 2000 and administered by the U.S. Treasury Department, the NMTC program has financed more than 5,400 businesses, helped create and retain 197,000 jobs, and supported 178 million square feet of manufacturing, office, and retail space. For every $1 of cost to the government, NMTCs generate $8 in private investment. And in 2012, NMTC investments created $984 million in federal tax revenue.