New Markets Tax Credits
Cinnaire leverages the federal New Markets Tax Credit (NMTC) program to focus investment in transformative projects in the most distressed communities in which we work. We look for opportunities to stimulate communities economically and provide the most vulnerable residents with critical services such as vocational training and child care.
The New Markets Tax Credit (NMTC) Program promotes economic advancement in distressed communities by encouraging private investment in community development projects. Rather than providing a direct federal grant to projects, the program marshals the private sector resources by providing an incentive for taxpayers to invest in community development organizations with a proven track record of impact in low income communities. These organizations put that capital to work, financing everything from manufacturing expansions to health clinics and daycare centers. Since 2000, the program has delivered $110 billion to more than 6,500 projects, creating over 1,000,000 jobs.
Since beginning our involvement with the program in 2009, Cinnaire has invested well over a quarter billion dollars in NMTC projects. We use each allocation of NTMCs to support large-scale financing for a range of community facilities that support our belief that all people deserve the opportunities provided by living in healthy communities.
Advocating for Permanent Funding of the NMTC
Federal funding for the NMTC must be renewed every few years. This creates unnecessary uncertainty for developers and investors looking to invest in underserved communities. In 2021, a bipartisan group in the Senate and House introduced bills to make funding for the NMTC program permanent. Our industry is encouraging Congress to prioritize this proven tax incentive for bringing investment to communities that need it most.
Cinnaire's NMTC Projects Making a Difference
Home Office - Lansing
1118 South Washington
Lansing MI, 48910
320 North Meridian, Suite 516
Indianapolis IN, 46204
100 W. 10th Street, Suite 502
Wilmington, DE 19801
225 West Washington, Suite 1350
Chicago, IL 60606
10 E. Doty Street, Suite 617
Madison, WI 53703
100 Cesar E. Chavez Ave., Suite 202
Grand Rapids, MI 49503
2111 Woodward Avenue, Suite 600
Detroit, MI 48201
231 E. Buffalo Street, Suite 302
Milwaukee, WI 53202