Curated News
By: NewsRamp Editorial Staff
June 04, 2025
NMTC 2025 Report Highlights Job Creation and Economic Growth in Underserved Areas
TLDR
- The NMTC program offers a competitive edge by generating over 61,000 jobs and $8 billion in investments in 2024, showcasing its efficiency in revitalizing low-income communities.
- The NMTC Progress Report details how $4.8 billion in allocations supported 350 projects, creating jobs and investing in manufacturing, healthcare, and education across 44 states.
- By funding projects in severely distressed areas, the NMTC fosters economic growth and access to healthcare and education, making a tangible difference in communities nationwide.
- Discover how the NMTC transformed $1.22 billion federal investment into 61,125 jobs and revitalized communities, proving its two-decade success in economic development.
Impact - Why it Matters
The NMTC's proven track record of revitalizing low-income communities through job creation and investment underscores its critical role in economic development. By supporting manufacturing, healthcare, and education projects, the NMTC not only addresses immediate community needs but also lays the groundwork for long-term prosperity. This news matters because it demonstrates the tangible benefits of targeted fiscal policies in bridging economic disparities and fostering inclusive growth.
Summary
The NMTC Coalition has unveiled its 2025 New Markets Tax Credit (NMTC) Progress Report, showcasing the program's significant impact in 2024. This 21st edition highlights the NMTC's role in funneling billions into underserved communities, creating over 61,000 jobs, and supporting 350 projects nationwide. Key figures like Phil Glynn, NMTC Coalition Board Chair, emphasize the NMTC's efficiency in job creation and economic stabilization, particularly in low-income areas. The report details the program's reach across 44 states, the District of Columbia, and Puerto Rico, with a focus on severely distressed communities and non-metropolitan counties. Notable achievements include supporting 114 manufacturing businesses and expanding healthcare and education access through 75 projects. The NMTC's success over two decades underscores its potential to transform communities by providing flexible capital to a variety of sectors.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, NMTC 2025 Report Highlights Job Creation and Economic Growth in Underserved Areas
