Since the New Markets Tax Credit program's inception in 2000, Enterprise has established itself as one of the largest tax credit allocatees in the nation, with a combined allocation of $610 million. Qualified Community Development Entities (CDEs) compete for these credits through an annual competitive process. Considered an innovative financing tool for community development and revitalization, the NMTC program is expected to stimulate $15 billion in private investment capital in low-income communities across the U.S.
Enterprise uses New Markets Tax Credits to enhance financing for commercial and mixed-use projects
- In qualifying low-income census tracts
- With demonstrable community impact – job creation and retention, wage increases, wealth creation, provision of essential services such as childcare, health care, education
Our portfolio to date includes:
- Placement of more than $550 million in commercial and mixed-use developments in urban centers and rural communities, with total development costs of over $3.4 billion
- More than 7.3 million square feet of new or rehabilitated real estate
- More than 40 developments, including rental and for-sale housing, office, retail, hospitality, community centers, shelters, theatres and schools in 19 states and Washington, D.C.
Property Portfolios
Read more about a few of the properties in our NMTC portfolio of more than 40 developments.
Community impact
- 3,500 housing units developed or rehabilitated
- 12,000 permanent jobs created or retained
- 5,700 pre-development or construction jobs created
Benefits of the NMTC program
- Cities gain new tools for economic development
- Developers enjoy subsidized rates on debt or receive additional tax credit equity
- Investors fulfill CRA objectives and diversify their investment portfolio with commercial and mixed-used real estate
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