Since 2000, the New Market Tax Credits (NMTC) program has become, by design, an adaptable tax incentive used to stimulate economic and community development in economically distressed areas throughout the United States. The program is predicated on tapping the power of capitalism to positively impact economically distressed rural and urban areas by attracting private capital to communities most in need of economic development.
Also, NMTC financing is of particular interest with regard to projects located in Georgia, because the U.S. Department of Treasury’s Community Development Financial Institutions Fund has identified Georgia as a state which has underutilized NMTC financing. In addition, many areas in metropolitan Atlanta qualify for NMTC financing.
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