NMTC Public Data Release: 2003-2022 Summary Report and Data File

The U.S. Department of the Treasury's Community Development Financial
Institutions Fund (CDFI Fund) today released a summary report and data
collected on all New Markets Tax Credit (NMTC) investments across the
nation from fiscal year (FY) 2003 to FY 2022. The CDFI Fund requires all
Community Development Entities (CDEs) that have been awarded NMTC
allocations to submit an annual report detailing how they invested
Qualified Equity Investment (QEI) proceeds in Low-Income Communities.
These reports must be submitted to the CDFI Fund by CDEs, along with
their audited financial statements, within six months after the end of
their fiscal year.Key highlights from the summary report from FY2003 to FY2022 include:$66.6
billion in NMTC investments were directed through both Real Estate and
Non-Real Estate Qualified Active Low-Income Community Business (QALICBs)
and investments made through other CDEs.Allocatees provided financing to 8,024 QALICBs.NMTC financing has been used to construct or rehabilitate over 259 million square feet of commercial real estate.In FY 2022, NMTC financing helped to create or rehabilitate over 10.5 million square feet of commercial real estate.$27.6 billion in investments were made in community facility projects.In
FY 2022, 54.9% of Qualified Low-Income Community Investments (QLICIs),
which totaled more than $1.9 billion, were investments in projects with a
community facility component.17,667 units of housing that have been created are reported as affordable housing.NMTC
investments have led to the reported creation or retention of over
40,000 projected jobs and over 850,000 actual jobs in the business,
construction and tenant business categories.The summary
report also documents the extent to which: (1) CDEs go beyond the
minimum statutory definition of Low-Income Communities by committing to
serve areas of higher distress, rural areas or targeted populations
(slides 11-14); (2) CDEs leverage the NMTC to offer financing with
flexible or non-traditional rates and terms (slides 15-17); and (3) CDEs
commit to innovative uses of NMTC financing (slides 18-22).<br><br>***<br>Microdata: Yes<br>Level of Analysis: Individuals - CDE Projects; State<br>Variables Present: Yes<br>File Layout: .xlsx<br>Codebook: N/A<br>Methods: No<br>Weights (with appropriate documentation): N/A<br>Publications: Yes<br>Aggregate Data: Yes