Welcome to the Finance Fund Blog!
The New Markets Tax Credit (NMTC) program is one of Finance Fund’s strongest resources. Today, we received the long awaited news that the U.S. Department of Treasury awarded us $40 million in NMTC. This is the eighth round of NMTC funding we have received, totaling $240 million since 2004. The NMTC funding fuels our New [...]
WASHINGTON, April 17, 2013 – The New Markets Tax Credit (NMTC) Coalition commends President Obama for his call for a permanent extension of the NMTC. By permanently extending the NMTC, President Obama would ensure that low income communities continue to receive billions in capital for new community facilities, businesses and revitalization projects while also generating a significant return on investment [...]
Finance Fund is pleased to award $12.8 million in federal and $2.56 million in state New Market Tax Credit (NMTC) financing to Ironville to expand operations at the Toledo Port’s Midwest Terminal. PNC New Markets Investment Partners, LLC, the investor, provided an additional $2.5 million federal allocation. The new construction project is located in a [...]
As the “fiscal cliff” looms, it’s likely that major cuts in government programs will be part of the plan to reduce the federal budget deficit. As the nation waits to see where the cuts will fall, Finance Fund is actively making the case for reauthorization of the federal New Markets Tax Credit (NMTC) program alongside [...]
Attending groundbreaking events is a favorite aspect of my work at Finance Fund. Today, I traveled to Zanesville to kick-off construction of the Muskingum Recreation Center – a long-awaited community health and fitness facility that will drive jobs and economic development to the area. When it comes to financing projects such as this one, Finance [...]
James Klein, Finance Fund CEO, has been elected to a seat on the Executive Committee of the New Markets Tax Credit Coalition (NMTCC). The 48-seat board is comprised of members from leading organizations that utilize NMTC, lending institutions, investors, and business professionals. Klein’s duties include advising on policy and regulatory issues that affect the use [...]
Finance Fund is proud to be a part of the new 138,000 square foot General Electric EPISCenter under construction on the University of Dayton campus. This new aviation research and development facility furthers the region’s goal to become the ideal location for advancing and supporting the industry. Interestingly, the facility is being constructed on what [...]
The latest Tech Town building, “Tech Town III,” opened its doors for the first time on Friday, October 28 in Dayton. The project, which began last September, encompasses a new 55,000-square-foot smart office building financed through a combination of New Markets Tax Credits, a grant from the Ohio Department of Development’s Job Ready Sites program [...]
There has been continuous talk about the job issues America has been facing. When factoring in underemployment, it has been reported our nation is at a 16% unemployment rate. Why is this happening? Who is responsible? How do we create more jobs? What can we do?
During his speech today, President Obama expressed the urgency to support small businesses and modernize our community infrastructure to create and sustain jobs. The federally funded New Markets Tax Credit program is an excellent example of how this type of initiative can work to benefit Ohioans. Since its inception, this program has created thousands of [...]
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