To help spur new businesses, economic growth and new jobs in low-income communities, the federal government in 2000 established the New Markets Tax Credit (NMTC) program, allowing investors to receive a credit against federal income taxes for investing in such neighborhoods. LISC established an affiliate, New Markets Support Company (NMSC), to serve as a bridge between community groups wishing to use the tax credits for development projects in their neighborhoods, and investors wishing to invest in those projects. Since 2004, NMSC has been involved in tax credit financing of $44.6 million in projects in Wisconsin, Michigan, Minnesota, New York and Washington State.
New Markets Tax Credit - Program Summary(PDF, 99 KB)