The federal New Markets Tax Credit (NMTC) program serves as
a resource to help fuel job creation and economic development efforts by
promoting equity investment in low-income urban and rural communities. WHEDA
awards NMTCs to enhance financing for projects in highly distressed areas
throughout Wisconsin that have demonstrable community impact.
Since 2004, WHEDA has received $500 million in NMTCs to
foster business development in Wisconsin.
WHEDA’s tax credit investments have created and/or retained
thousands of jobs for the state of Wisconsin in categories such as:
Businesses involved in NMTC deals can obtain benefits
including lower interest rates on loans, interest-only payments for seven
years, non-traditional financing not available in the marketplace, access to a
reduced cost of capital, and more. NMTC recipients include manufacturers, small
technology firms, inner-city shopping centers, commercial real estate
developments, retail stores, hotels, and health care facilities.
Projects must be located in highly distressed census tracts
– which are determined by factors such as poverty rates, unemployment rates and
the percentage of median family income. The NMTC is a competitive program
administered by the U.S. Department of the Treasury’s Community Development
Financial Institutions Fund.
In accordance with federal law and U.S. Department of the Treasury policy, Greater Wisconsin Opportunities Fund, Inc. is prohibited from discriminating on the basis of race, color, national origin, sex, age, or disability. To file a complaint of discrimination, write to Department of
the Treasury, Office of Civil Rights and Diversity, 1500 Pennsylvania Ave. NW, Washington, D.C. 20220 or call (202) 622-1160.