A Progress Report for the New Markets Tax Credit Program

During the ups and downs of recovery, acquiring and making the most of funding has been critical for distressed communities. A new report details the recent results from one such source, the New Markets Tax Credit program.

1 minute read

June 10, 2015, 7:00 AM PDT

By James Brasuell @CasualBrasuell


"A new report on the New Markets Tax Credit (NMTC) indicates the federal tax credit was responsible for creating nearly 40,000 jobs last year," according to an announcement written by Paul Anderson on the New Markets Tax Credit Coalition website. The NMTC was created in 2000, though its inner workings might remain a mystery to some. 

According to the announcement, the 2015 NMTC Progress Report [pdf] "includes data from 67 Community Development Entities (CDEs), representing $16.8 billion in total NMTC allocations from 2003 through 2014. The report findings also demonstrate the importance of the NMTC to the manufacturing economy, which has been in steep decline over the last couple decades. In 2014, the program created nearly 10,000 manufacturing jobs. Other projects included community facilities and other important amenities such as healthcare facilities, social service facilities, and schools and vocational training facilities. More than 71 percent of these projects were located in severely distressed communities that far exceed the statutory requirements for poverty and income."

The coalition also released a video, embedded below, explaining how the NMTC works and showcasing a few example projects.

The New Markets Tax Credit at Work from NMTC Coalition on Vimeo.

Tuesday, June 9, 2015 in New Markets Tax Credit Coalition

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Use Code 25for25 at checkout for 25% off an annual plan!

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

May 7, 2025 - Diana Ionescu

People biking along beach path with moored ship in San Diego, California.

San Diego Adopts First Mobility Master Plan

The plan provides a comprehensive framework for making San Diego’s transportation network more multimodal, accessible, and sustainable.

May 2, 2025 - SD News

Front of Walmart store with sign.

Walmart Announces Nationwide EV Charging Network

The company plans to install electric car chargers at most of its stores by 2030.

May 7, 2025 - Inc.

Pump station with blue pipes coming out of concrete wall in Seattle, Washington.

Seattle Builds Subway-Sized Tunnel — for Stormwater

The $700 million ‘stormwater subway’ is designed to handle overflows during storms, which contain toxic runoff from roadways and vehicles.

May 13 - City Observatory

Sign for Deschutes National Forest in Oregon.

Feds Clear Homeless Encampment in Oregon Forest

The action displaced over 100 people living on national forest land near Bend, Oregon.

May 13 - The New York Times

Seeing the Better City

Is This Urbanism?

Chuck Wolfe ponders a recommended subscription list of Substack urbanists and wonders — as have others — about the utility of the "urbanist" moniker.

May 13 - Resurgence: A Journey via Substack

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.