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About the NMTC Program

Advocating for the NMTC Program

The New Markets Tax Credit (NMTC) has expired. Without legislative action, the future of using private capital to spur community and economic revitalization in low-income urban, suburban and rural areas hangs in jeopardy.

Pending tax legislation offers an opportunity to ensure the continued success of the NMTC, named one of the nation's most innovative government programs by Harvard University.

Lend your voice and urge your members of Congress to extend the NMTC by encouraging them to cosponsor HR 2655 and S 996.

Since 2000, NMTC have generated investment in low-income communities across all 50 states, the District of Columbia and Puerto Rico. According to the Treasury Department’s Community Development Financial Institutions Fund, to date the program has raised more than $25 billion in private capital, leveraging about $12 of private capital for every $1 of NMTC investment in distressed communities.

A survey by the New Markets Tax Credit Coalition found that the program has:

Helped support more than 15,000 businesses in low-income communities
Developed or rehabilitated over 68 million square feet of real estate
Created almost 500,000 jobs

Your support is also needed to encourage members of Congress to cosponsor legislation extending the NMTC program – H.R. 2655 and S. 996. With continued outreach, we can meet our ultimate goal to make the NMTC program permanent.

Why NMTC Works

The New Markets Tax Credit (NMTC) program stimulates local economies in low-income, distressed communities. A proven, cost-effective tool, NMTCs support job creation and encourage small businesses to expand.

Because of NMTCs, cities gain new tools for economic development, developers enjoy subsidized rates on debt or receive additional tax credit equity and investors fulfill CRA objectives and diversify their investment portfolio with commercial and mixed-use real estate. The program has had a measurable impact:

The New Markets Tax Credit Coalition estimates that $36 billion in capital has already been invested thanks to the credit.
Using the Recovery Act standard of one job for every $92,000 in financing, investments create more than 390,000 jobs in low-income communities.

Enterprise's NMTC projects have ranged from an elementary school in Portland, Ore., to a domestic violence shelter in Harlem, to a retail shopping center in Cleveland. In each case, our allocation has helped facilitate the completion of a vital local project that otherwise would not have moved forward. Through the program, Enterprise bridges financing gaps and provides a cushion against cash flow obstacles as projects reach stabilized operations.

Our projects also help cover up-front costs associated with installing energy-efficient, water-saving and other sustainable green-building features through our Enterprise Green Communities NMTC program.

A Catalyst for Community Renewal

See the impact of the transformational NMTC program in Roxbury, Mass., Baltimore and Los Angeles.

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We are Enterprise. Our family includes Enterprise Community Partners, Inc, a national Section 501(c)(3) charitable organization that provides expertise for affordable housing and sustainable communities. Financing for affordable housing is offered through our tax-exempt subsidiary, Enterprise Community Loan Fund, Inc., and our for-profit subsidiary, Enterprise Community Investment, Inc. Housing development is offered through Enterprise Community Investment's subsidiary, Enterprise Homes, Inc. The content on this website reflects information about all of these entities.