New Markets Tax Credits
Investing in Communities Through the Power of NMTC
We believe in the power of investment to transform lives and communities. Since 2009, we’ve harnessed the federal New Markets Tax Credit (NMTC) Program to channel private capital into projects that create meaningful impact in the most economically distressed communities.
Our NMTC program supports the development of high-impact facilities — including health centers, vocational training hubs, early childhood education centers, and other critical community assets — that provide essential services and fuel local economic growth. By leveraging tax credit allocations from the U.S. Department of the Treasury, we help reduce the cost of capital for projects that make a difference.
Cinnaire has secured ten competitive NMTC allocations totaling $594 million, deploying over a quarter billion dollars in investments to date. Each dollar is strategically directed to projects that generate jobs, expand opportunities, and provide vital resources for low-income individuals and families.
We are proud to be part of a program that, nationally, has catalyzed more than $110 billion in investments and supported over 6,500 projects, creating more than 1 million jobs. Through our NMTC work, Cinnaire continues to drive equitable development and build thriving, resilient communities.
Cinnaire's NMTC Projects Making a Difference
Marygrove Childhood Education Center
The Marygrove Early Childhood Education Center was the first New Markets Tax Credit project in Detroit to focus on early childhood development and education. Located at the Marygrove Conservancy Campus--formerly a woman’s college--the Marygrove Early Education Center is a key element to the cradle-to-career P-20 project. The revitalized campus is an anchor for the redevelopment of the surrounding Livernois-McNichols neighborhood, ensuring residents have access to high-quality education and holistic support services for children ages birth to 5 years and their families.
Ivy Tech Automotive Technology Center
In a city with an 11.7% unemployment rate, Ivy Tech Community College was looking to erect a state-of-the-art automotive training center in Indianapolis. This new vocational training center will ultimately provide 600 graduates a year the skills to succeed in high-demand, high-wage jobs in the auto industry while boosting the regional economy.
This was made possible through a NMTC investment totaling $15.5 million from Cinnaire and PNC Community Partners Inc. and $5 million from Indianapolis Redevelopment CDE. The Automotive Center was awarded the 2022 Novogradac Journal of Tax Credits Real Estate QLICI of the Year Award.
Salvation Army Freedom Center
The Freedom Center in Chicago is home to the Harbor Light Center, one of the Salvation Army’s largest substance abuse recovery programs in the United States. For over 70 years, they have provided comprehensive, specialized services to persons seeking to overcome the disease of substance and alcohol abuse. Pathway Forward, the Freedom Center’s residential work-release program helps men and women who have been imprisoned successfully re-enter society. And it houses Salvation Army's outreach ministry, providing food and shelter for those in need.
Cinnaire invested $9M in NMTC to help finance the new, 188,000 square foot facility.
Mott Culinary Arts Institute
The Mott Culinary Arts Institute in Flint, Michigan, provides students with the opportunity to complete an associate degree in Culinary Arts, Baking and Pastry Arts, Food Service Management. The state-of-the-art facility, located in a renovated 100-year-old Woolworth's building, boasts multiple laboratories, and courses are taught by award-winning, certified executive chefs, and food service professionals.
The Charles Stewart Mott Foundation donated the iconic Woolworth Building to house the new facility and Cinnaire, in partnership with Chase, provided a $9 million NMTC allocation.
Our Locations
Lansing
1118 South Washington
Lansing MI, 48910
Indianapolis
201 North Illinois Street
Suite 1530
Indianapolis IN, 46204
Wilmington
100 W. 10th Street, Suite 502
Wilmington, DE 19801
Chicago
225 West Washington
Suite 1350
Chicago, IL 60606
Madison
10 E. Doty Street, Suite 617
Madison, WI 53703
Grand Rapids
100 Cesar E. Chavez Ave.
Suite 202
Grand Rapids, MI 49503
Detroit
2111 Woodward Avenue, Suite 600
Detroit, MI 48201