New Markets Tax Credit Benefits
The NMTC Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities. Since the inaugural round in 2002 through the end of 2025, the NMTC Program awarded $91 billion to certified Community Development Entities and generated the following impact:
- Created or retained more than 950,000 jobs
- Supported the construction of 106.2 million square feet of manufacturing space, 111.3 million square feet of office space, 68 million square feet of retail space, and nearly 15,000 affordable housing units
- Generated $8 of private investment for every $1 of federal funding
Download NMTC Program Fact Sheet (English) ›
View QEI Issuance Report (September 2026) ›
Opening Date
September 17, 2026
Deadline
November 10, 2026
Announcement Date
Summer 2027
OVERVIEW
Historically, low-income communities experience a lack of investment, as evidenced by vacant commercial properties, outdated manufacturing facilities, and inadequate access to education and healthcare service providers. The New Markets Tax Credit Program (NMTC Program) aims to break this cycle of disinvestment by attracting the private investment necessary to reinvigorate struggling local economies.
The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs). The credit totals 39% of the original investment amount and is claimed over a period of seven years.
For more information, please see our NMTC Program Fact Sheet. A detailed overview of the NMTC Program, including information on eligible activities, can also be found in the Introduction to the NMTC Program presentation.
IRS Materials and Reference Documents
ELIGIBILITY
NMTC Program applicants must be certified as CDEs by the CDFI Fund. For more information on CDE Certification, please see our CDE Certification page
CDE Certification is intended for community development financing intermediaries. Businesses seeking NMTC-enhanced financing should not apply for CDE Certification, but should instead contact CDEs directly. To locate a CDE serving your area, please visit our NMTC Awardee States Served map.
Download our Notice of Allocation Availability for information on eligibility.
Are you an individual or business seeking a loan?
Click here to learn how to find CDFIs and CDEs that are providing services in your community.
