The New Markets Tax Credit (NMTC) Program has brought high social and economic impact to Florida, as well as nationwide. Since 2003, NMTC has supported high social and economic impact projects in distressed communities across the country. Florida Community Loan Fund (FCLF) has helped provide tax credits to 14 projects, with a 15th in final closing stages, totaling $388 million, creating 2800 jobs and providing services to 7000 individuals annually.
New Market Tax Credits offer communities a unique and powerful tool with which to finance high priority local community economic development projects that often times "but for NMTC" wouldn't get done.
Nationally, the NMTC Program has delivered more than $60 billion in capital to businesses and revitalization projects. According to the NMTC Coalition, these investments have generated over 550,000 jobs. (source: 2014 NMTC Progress Report)
Based upon the program's success, congressional leaders in both the House and Senate have introduced legislation that would make the credit a permanent part of the US Tax Code.
FCLF's NMTC focus is on projects that provide:
- Significant economic or community impact
- Community facilities & health care services
- Grocery stores in food deserts
- LEED- or FGBC- certified "green" buildings
Below is a recap of the social impact provided by FCLF NMTC projects. To learn more about the NMTC program, visit www.nmtccoalition.org, and view the 2014 NMTC Progress Report.
| FCLF NMTC Project | Total Project | Social Impact |
| ASPIRA of Florida | $8.2 million | 96 jobs, 601 students annually |
| New Manchester Flats II | $7.5 million | 165 jobs, 140 reached annually |
| Wexford Science + Technology | $116.8 million | 585 jobs |
| KIPP Jacksonville School | $26.2 million | 232 jobs, 550 students annually |
| SolarSink | $16.6 million | 65 jobs |
| Quitman Torrefaction | $50.2 million | 26 jobs |
| Lake Point Restoration | $30.2 million | 26 jobs |
| ASPIRA of Florida, 2nd project | $8.9 million | 92 jobs, 460 students annually |
| Camillus House | $37.4 million | 480 jobs, 3000 reached annually |
| Metropolitan Ministries | $19.3 million | 149 jobs, 282 reached annually |
| Green Biofuels | $30.5 million | 30 jobs |
| Hitchcock's Market | $7.3 million | 164 jobs |
| CASA St. Pete | $12.0 million | 192 jobs, 1495 reached annually |
| Metropolitan Ministries, 2nd project | $16.7 million | 144 jobs, 600 reached annually |
| Jessie Ball duPont Center, estimated | $20 million | 422 jobs |
| Total FCLF NMTC Projects | $408 million |
2868 jobs |
Pictured, ASPIRA of Florida under construction, Hitchcock's Market in NE Florida, Wexford Science + Technology 
