The NMTCC is a national membership organization representing Community Development Entities (CDEs) and investors working with the NMTC program. The Coalition was formed in 1998 with the principal purpose of advocating for the enactment of a federal tax credit to spur economic development in underserved areas. The Coalition works to ensure that the NMTC program can effectively be used to attract private capital and generate economic development in poor communities.

Interestingly, the facility is being constructed on what is called a brownfield, a site that has become unusable due to the environmental concerns of the facility that previously sat on the property. In the case of the EPISCENTER, it will create a new purpose for a former NCR facility while sparking the local economy with the jobs it will create.

“We are hoping this is a catalytic project for the site,” said Brian Heitkamp of CityWide Corporation, a developer of the site. “This is the first step in making a long term impact on local economies by developing this type of facility. Redeveloping brownfield sites is harder to do, but it is important since they are usually in urban centers.”

Construction of the facility was partly made possible through New Markets Tax Credits and private investment from Finance Fund, CityWide Development Corporation, Urban Research Park CDE, LLC and PNC Community Development Corporation. The New Markets Tax Credit program encourages private capital investment into designated low income communities to spur economic revitalization.

This public-private partnership is an excellent example of how the New Markets Tax Credit program helps regions create a sustainable economic path. By investing in the EPISCENTER, we are ultimately investing in the future success of the Dayton region.

Learn more about the GE EPISCenter by watching the below video:

The Tech Town area has been built to support a collaboration of technologies, creating a campus for start-ups, cutting-edge tech companies and research groups. Linking with the adjacent Wright-Patterson Air Force Research Laboratory and the University of Dayton Research Institute enables a viable connection for collaboration. A recent Dayton Daily News article talks in more detail about the new facilities.

Great things are happening in Dayton. Look for more information on how Finance Fund is playing a role in helping the area meet its objective of becoming an aviation technology and research hub soon.

At Finance Fund, we keep doing what we’ve always been doing – leveraging funds to help spark community development and create jobs. The distressed communities we serve want to work and are excited to see that under construction sign. Real estate and business development means something new is about to happen, progress is being made and opportunities are on the rise.

Create jobs by development, we say. Where progress is being made in our distressed communities, heads are held high. We’re pleased to tell you the Labor Board announced, as of September, 103,000 jobs have been added to the economy. We’re excited because we know we engaged the right relationships to help local businesses get the capital they needed to grow and start projects to benefit Ohioans. We are part of that growth.

As we continue to work with banks and other investment partners to leverage New Markets Tax Credit funding, PreDevelopment and Economic Development grants, Intermediary Lending Programs and other credit and lending programs we know we will continue to make a difference. It is not one person’s responsibility — it is a coalition of unified effort that will make the change for this nation. None of us are as smart of all of us.

Finance Fund is just one piece of the puzzle. What crucial piece are you?

Finance Fund staff enjoyed getting close to the President this afternoon!

In response to the American Jobs Act, I can speak to bi-partisan federal programs like New Markets Tax Credits (NMTC) that have created thousands of full-time jobs in distressed communities. The NMTC program is one of Finance Fund’s strongest job creation resources. We have leveraged $249.2 million on an investment of $101.8 million to create 2,816 full-time jobs and 1,467 construction jobs inOhiosince 2004.

To learn more about our NMTC success stories and find out how the NMTC program can help with job creation in Ohio email Jen Deuber at jdeuber@financefund.org for more information or visit our website, http://www.financefund.org.

The NMTC funding fuels Finance Fund’s New Markets program which offers credit for fixed assets to nonprofit and for-profit business borrowers in qualifying low-income census tracks for projects that revitalize both urban and rural low-income communities in Ohio. With the extension of the NMTC program we hope to be awarded funds in the future and continue to make business and job growth possible for more individuals.

Senator Tiberi of Ohio is an original co-sponsor of the bill. His involvement is a powerful indicator of the support that exists in Central Ohio.

The NMTC Coalition is asking all businesses that have benefited from NMTC financing to sign their letter to Congress urging further extension of the NMTC program. To date more than 3,000 businesses located in all 50 states and DC have received an NMTC investment, but less than 500 are signed on to the Coalition’s letter. It is important to show Members of Congress that businesses want and need the program to continue.

Our theme for 2010 was “Plan. Build. Succeed.”—and what an appropriate theme! Finance Fund created amazing opportunities for local Ohio communities in 2010.

The evening also honored David Gibson of PNC Financial Services and Medina Creative Housing with the 2010 Community Champion Award. This award is given to those who exhibit extraordinary service to their community. The work that has been accomplished by David Gibson and those at Medina Creative Housing has impacted hundreds of Ohioan’s lives. Distressed neighborhoods have been revitalized, unemployed individuals have been given jobs and low-income communities have been allocated resources to improve the quality of life.

Some of the projects that were highlighted throughout the evening were:

The Freeport Press – We connected Freeport Press to $6 million in a New Markets Tax Credit Loan, which will help sustain the nationally-recognized commercial printing company’s growth and provide additional opportunities for employment to the residents of Harrison County. The company is currently the largest employer in Harrison County and has seen 190 jobs created and retained with Finance Fund’s help.

Family Services of Middletown – With funds from local private sources, numerous in-kind services, and a Finance Fund Economic Development Grant, we helped Family Services of Middletown purchase a 12,700 sq. ft warehouse from which they can provide quality of life services to the area’s low and moderate income houses.

St. Lawrence O’Toole Gardens – We partnered with the developers at St. Lawrence O’Toole Gardens by providing $2.7 million in New Markets Tax Credits funding. These funds enabled the developers to purchase and renovate a facility that now offers 21,700 sq. ft of living space with appropriate services and amenities for the elderly residents of Lawrence County and the tri-state geographical area. This project also created 30 full-time jobs.

2010 was an incredibly successful year for community revitalization and Finance Fund is continuing to build a better Ohio in 2011 and years to come.

To view photos from the 22^nd Annual Reception click here.

The NMTC funding fuels our New Markets program which offers low-interest financing for projects that revitalize both urban and rural low-income communities in Ohio and incentivizes private investment into these distressed communities. Most importantly, the funding will spur job creation. Through our New Markets program, we have greatly impacted economic development in the state of Ohio by leveraging $249.2 million on an investment of $101.8 million for 33 projects, which have created 2,816 full-time jobs and served 536 children.

The New Markets program has funded many projects throughout Ohio in distressed communities. Learn more about a few of our NMTC success stories – Save-a-Lot grocery store in Columbus, and Freeport Press in Harrison County. Both utilized NMTC funding to create jobs, expand offerings and revitalize distressed parts of their respective communities.

 “The Ohio New Markets Tax Credit program is one of the first of its kind in the country, and we are eager to see the new developments that come from this program,” Patt-McDaniel said.

The Ohio New Markets Tax Credit program leverages the successful Federal New Markets Tax Credit program to attract additional investments to Ohio. Entities that received a tax credit allocation from the Federal New Markets Tax Credit program were eligible to apply. Finance Fund will twin their state credits with their federal credits on qualified projects within Ohio’s low-income communities matching both state and federal parameters.

For more information on the Ohio New Markets Tax Credit program, the Federal New Markets Tax Credit program or potential projects, please contact Moniqua Spencer, Chief Program Officer at Finance Fund, at mspencer@financefund.org.