For every $1 of private tax equity invested, the NMTC Program generates over $8 of additional private investment.
Impact of the NMTC Program in underserved communities since its inception in 2002:
• Created an estimated 596,842 jobs
• Supported the construction of 22 million square feet of manufacturing space, 28 million square feet of manufacturing space, 75 million square feet of office space, and 60 million square feet of retail space
• In addition, as these communities develop, they become even more attractive to investors, catalyzing a ripple effect that spurs further investments and revitalization.
Benefits to local businesses:
• Small and medium-sized businesses gain access to financing that is flexible and affordable.
• Investment decisions are made at the community level and NMTC business and real estate investments typically involve more favorable terms and conditions than the commercial financing market offers.
• Terms can include lower interest rates, flexible provisions such as subordinated debt, lower origination fees, higher loan-to-values, lower debt coverage ratios and longer maturity.