Business,Economic Development,Education & Schools,Health & Mental Health
USDT New Markets Tax Credit Program
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% of the original investment amount and is claimed over a period of seven years.
NMTC Program applicants must be certified as CDEs by the CDFI Fund. A CDE is a domestic corporation or partnership that is an intermediary vehicle for the provision of loans, investments, or financial counseling in low-income communities. 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.
The Wisconsin Economic Development Corporation (WEDC) is offering grants to support the development of new and existing cooperatives in Wisconsin, with a goal of fostering the success of current and future cooperatives by supporting planning and exploratory research in advance of making a large investment.