The Community Development Financial Institutions Fund has announced the 120 Community Development Entities who were selected to receive New Markets Tax Credit allocations totaling $7 billion under the 2015-2016 Round. 238 Community Development Entities submitted 2015-2016 NMTC applications and requested more than $17.6 billion in allocation authority.
DV Community Investment is proud to have received its fifth NMTC Allocation in the amount of $80,000,000.
DVCI's primary mission is to create quality full-time jobs in communities of concentrated unemployment, targeted to low-income persons, by financing businesses including manufacturing and distribution facilities which are strong economic engines for high quality job creation, projects which deliver quality health care, education, social services, retail and housing, and emerging industry sectors. In total, 6,249 quality permanent jobs and 5,469 construction jobs have been created with DVCI’s NMTC allocation to date.
For the 2015-2016 NMTC Book of Awards, please click here.