Commercial Real Estate
The New Markets Tax Credit Program, explained
We break down the NMTC Program—from eligibility requirements to its focus on improving distressed communities.
Historically, low-income communities have lacked investment and resources. To combat this disinvestment, Congress established the New Markets Tax Credit Program (NMTC) in 2000. The program is designed to attract private investment to distressed communities and spur community development and economic growth.
“The New Markets Tax Credit Program is a critical source of financing for businesses and community facilities in low-income urban and rural areas,” said En Jung Kim, Director of New Markets Tax Credit for Community Development Banking at JPMorgan Chase. “By providing gap funding for projects ranging from Federally Qualified Health Centers to large-scale manufacturing facilities, the program supports expanded services and employment opportunities to help improve residents’ quality of life.”
JPMorgan Chase has been an investor in NMTC equity since the program’s inception. Our designated team is here to help project owners throughout the development process, including assessing eligibility.
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