Federal revenue generated by the new markets tax credit (NMTC) more than pays for the cost of the program, according to a recently released report from the New Markets Tax Credit Coalition. This was just one of the findings of “A Decade of the New Markets Tax Credit: An Economic Impact Analysis,” which examines the economic impact of the NMTC program from 2003 to 2012. The report also found that during the time period, NMTC investments:
- Generated nearly $118 billion in economic activity.
- Created more than 744,000 jobs in low-income rural and urban communities.
In addition to economic impact, the report provides a brief history of the NMTC and analyzes investment trends within the industry.
Read the full report here.
