Development Authority of 
Peach County Georgia | 425 James E. Khoury Drive | Unit B | Fort Valley, Georgia 31030 | (478) 825-3826 | peachcountydevelopment@ymail.com
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New Market Tax Credits

New Market 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. As of the end of FY 2021 (most recent data available as of 01/03/2024), the NMTC Program has:
  • Generated $8 of private investment for every $1 of federal funding
  • Created 239 million square feet of manufacturing, office, and retail space
  • Financed more than 10, 800 businesses
 

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Historically, low-income communities experience a lack of investment, as evidenced by vacant commercial properties, outdated manufacturing facilities, and inadequate access to education and healthcare service providers.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 Market 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 percent of the original investment amount and is claimed over a period of seven years.

Eligibility

  • NMTC Program applicants must be certified as CDEs by the CDFI Fund. 
  • 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. 
For additional information, please see the U.S. Department of the Treasury website
 
Source:  U.S. Department of the Treasury.  
 

Mapping Tool 

This mapping tool was created to provide prospective applicants with the ability to search by address, census tract, and other geographic areas of interest to determine program eligibility for the BEA, CDFI, CMF, NACA, and NMTC programs.   Use the search bar to type an address and view eligibility information on the map. 


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News and Events

May 5 | Macon Named 2024 Great American Main Street!

Main Street America announced that NewTown Macon in Macon, Georgia, has received the prestigious Great American Main Street Award (GAMSA), which recognizes communities for their excellence…

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May 5 | UGA Workforce November Conference

Save the Date!  4th Annual Workforce Conference  November 12-13, 2024 Tuesday, November 12 | 8 a.m. – 5 p.m. Wednesday, November 13…

(READ MORE)

 

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Call: (478) 825-3826 or peachcountydevelopment@ymail.com425 James E. Khoury DriveUnit BFort Valley, Georgia 31030