RALEIGH, NC, September 26, 2024 /24-7PressRelease/ -- We are pleased to announce that the U.S. Department of the Treasury's CDFI Fund awarded CAHEC New Markets $50 million of New Markets Tax Credit (NMTC) allocation authority under the CY 2023 allocation round. The NMTC allocation will finance high-impact community facilities throughout the Southeast and mid-Atlantic regions, creating new jobs and improving access to education, healthcare, and essential goods and services in high distress, low-income communities.

In total, CAHEC New Markets has been awarded $270 million of NMTC allocation. To date, these allocation awards have and are projected to help create over 3,000 jobs, 4,850 student seats, 362 shelter and recovery center beds, and access to healthcare facilities serving over 53,000 patients annually.

Brian Oxford, Director, Community Capital, says he is "honored and proud we were selected from a highly qualified applicant pool and excited to work on deploying the allocation to highly impactful projects responding to community needs." For more information about the NMTC Program and the full list of awardees, please visit the CDFI Fund website.

To learn more about CAHEC New Markets, please get in touch with Brian Oxford at 919-532-1796 or boxford@cahec.com.

The New Markets Tax Credits program is designed to stimulate economic and community development and job creation in low-income communities by attracting investment capital from the private sector. CAHEC created CAHEC New Markets, LLC, to focus on utilizing our New Markets Tax Credit allocations to help finance community facility projects throughout the Southeast. To learn more about CAHEC New Markets visit its website.

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