The New Markets Tax Credit (NMTC) is a federal tax incentive program authorized by Congress in 2000 to help spur the investment of $15 billion of capital in businesses that are located in low-income and other eligible communities. The purpose of the program is to have the same type of positive influence on business and economic development. Most entities permitted to support the NMTC program may provide subsidized commercial real estate mortgage loans to finance the purchase, construction, renovation or refinance of certain real property.
All loans made under the NMTC program must meet certain program and location eligibility guidelines. To simplify the search process for eligible locations in South Carolina, JEDA has provided a mapping system that allows individuals to determine such locations.