The New Markets Tax Credit Program, explained

Considering the New Markets Tax Credit Program?
The NMTC Program helps spur economic investment in low-income communities. Here’s how it works.

Graphic: A map icon
NATIONALLY
Through 2021, NMTC allocations have supported a total investment of over $120 billion across 7,500 projects around the country. Source: New Markets Tax Credit Fact Sheet, New Markets Tax Credit Coalition

JPMORGAN CHASE NMTC CONTRIBUTIONS From January 2012 to December 2021
Graphic: Several shaded circles on a curved, dotted line; the largest circle, which is blue, draws a line to statistics
$7 billion across 460 projects

Graphic: Two circle charts.
39% tax credit is provided to investors who support qualified projects that are located in and serve low-income communities
20% of qualified project development costs can be covered using NMTC financing
Graphic: A clock icon

PLANNING AHEAD
The tax credit is taken over seven years.

Graphic: A clipboard icon with a check on it along with text, is placed over the image of a construction site with several construction workers and pipes.
ELIGIBILITY REQUIREMENTS
If you’re seeking funding for a development, NMTC may be able to fill that gap. Consider the tax credit’s eligibility requirements.

NMTC-eligible projects are located in eligible census tracts, which have: 20% poverty rate OR <80% of Area Median Income (AMI)

Graphic: Arrow
As the program grows more competitive, projects are increasingly in census tracts with: 30% poverty rate OR <60% of Area Median Income (AMI)

Some projects may not qualify, such as:
Graphic: Icon of tractor crossed out
Farming
Graphic: Icon of ace of spades playing card crossed out
Race tracks and gambling facilities
Graphic: Icon of bottle and wine glass crossed out
Liquor stores

Previously approved NMTC projects include:
Graphic: Hospital cross icon
Community healthcare centers
Graphic: Graduation cap
Charter schools
Graphic: Icon of storefront
Grocery stores in food deserts

NMTC projects positively impact their communities
Graphic: A handshake icon sits in the center of graphic with lines connecting it to four ways NMTC projects can positively impact communities
One line leads to an earth with a heart icon
Environmentally sustainable
One line leads to an icon of several buildings
Commercial or community goods or services
One line leads to an icon of three people
Creation and retention of quality, accessible jobs
One line leads to the icon of a plant
Financing for minority businesses or healthy food

Let's assess your project's eligibility.
SEND DETAILS TO
En Jung Kim, Director of New Markets Tax Credit
en.jung.kim@chase.com

© 2022 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/cb-disclaimer for full disclosures and disclaimers related to this content. 1392334