New Markets Tax Credits
New Market Tax Credits are a federal subsidy tool
The tool is administered by the U.S Department of Treasury designed to attract capital to projects that support low- and moderate-income households and communities.
MCC is the only Community Development Entity (CDE) that deploys this resource entirely in the State of Michigan. Since the organization’s formation in 2004, MCC has secured a total of $255 million dollars in tax credit allocation through competitive rounds to support Michigan businesses and communities.
MCC uses NMTC’s to support job creation, access to healthy food, and mixed-use projects, including mixed-income housing and commercial businesses that benefit low-income households.