Forest City, Iowa – Rural Development Partners (RDP) was honored to partner with America’s Heartland to educate America about the federally funded New Markets Tax Credit (NMTC) program. The episode aired on RFD-TV today (April 26th), featuring four NMTC partners who share how they learned about the program, how the investment works, and join their communities in giving testimony to the catalytic impacts witnessed in their businesses, communities, and region. See how New Markets Tax Credits are revitalizing underserved communities nationwide; full episode linked below.
New Markets Tax Credits
Established in 2000, the New Markets Tax Credit Program incentivizes community development and economic growth by attracting private capital to low-income, underserved communities. Individual and corporate investors receive a tax credit against their federal income tax in exchange for making equity investments. The New Markets Tax Credit Program has been a critical source of financing for businesses and community facilities in both rural and urban areas by filling the funding gap for projects ranging from Food Bank Distribution Facilities and Federally Qualified Health Care Centers to large-scale manufacturing facilities. The NMTC program supports expanded services and provides employment opportunities that improve quality of life while having catalytic economic benefits that revitalize communities. The NMTC Program has generated $8 of private investment for every $1 of federal funding.
America’s Heartland is the first and still most widely-distributed weekly public television program telling positive stories about agriculture, and remains uniquely positioned to address key challenges, issues, and opportunities facing this essential industry. Video teams have captured stories in all 50 states and followed products globally, capturing a worldwide audience. America’s Heartland airs on hundreds of PBS channels representing 97% of all U.S. Television markets, including RFD-TV, a popular cable and satellite channel seen in 52 million U.S. households weekly; other network affiliates: Fox, ABC, CBS, and NBC.
Rural Development Partners
Rural Development Partners is a Community Development Entity (CDE) with a national service area, eligible to apply for an annual allocation of Federal New Markets Tax Credits. RDP works to combine NMTCs with bank loans and tax credit investor funds to create more favorable financing solutions than are available through conventional lending and investing. RDP seeks to serve and partner with businesses, non-profit organizations, communities, and government entities that share its mission to build public-private partnerships for catalytic job growth in rural America. To learn more about RDP or the NMTC Program, visit our website. To track the ongoing impacts of NMTC projects visit RDP’s social media platforms at FaceBook or LinkedIn; and to hear stories told by the communities impacted follow RDP’s YouTube page.
NMTC projects Featured on Season 16, Episode 16 of America’s Heartland TV “Farmers Rebuilding Rural America”: Bongards (Humboldt, TN), Atlanta Community Food Bank (East Pointe, GA), Coastal Growers (Atmore, AL), Westervelt Lumber (Thomasville, AL)