The Community Development Financial Institutions (CDFI) Fund recently released updated data on New Markets Tax Credit (NMTC) projects, including a summary of projects financed through 2011, a listing of all qualified active low-income community businesses (QALICBs) financed by community development entities (CDEs), and a map of QALICBs financed by CDEs through 2011. According to CDFI Fund, more than 2,600 businesses and 3,990 real estate investments received a NMTC allocation between 2003 and 2011. In addition, more than 75 percent of NMTCs were invested in census tracts that met one of three indicators of “severe distress,” such as lower incomes, higher rates of poverty or higher unemployment rates””criteria greater than the minimum requirements for the NMTC program.
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