The New Markets Tax Credit (NMTC) Coalition today released its 2014 NMTC Progress Report. The report outlines how the new market tax credit was used and describes the impact it had on economically distressed communities during calendar year 2013, which includes creating more than 54,000 jobs and nearly 2,500 housing units. The report also provides updated investment and transaction information from NMTC allocatee survey respondents for calendar year 2013 and examples of successful projects, among other things.
Background: Every year, the NMTC coalition sends a survey to all the CDEs who have recieved a NMTC allocation. This year 64 CDEs representing $17.1 billion in total allocation (2003-2013) responded to the survey reporting on their NMTC activity in calendar year 2013.