Impact Marketplace

In a recent article, Novogradac highlights an important reality in NMTC: “The ultimate recipient of new markets tax credit (NMTC) financing is generally the party with the least experience in the tax incentive world.” These include Qualified Active Low-Income Community Businesses (QALICBs). The good news is that there are simple strategies that QALICBs can take to maximize the benefits of NMTCs. Here are just a few: Be Committed to Overcoming Challenges: Helping QALICBs navigate NMTC transactions demands patience and expertise. As Kermit Billups of Greenline Ventures emphasized, these ventures often require tailored support due to their complexity and the financial constraints of small business owners. With the right support and a commitment to perseverance, it is possible for QALICBs to access these funding sources. Educate Early: QALICBs may approach NMTC funding with limited understanding due to the complexity of this market. Early education and preparation—engaging legal and financial advisors—are crucial steps to align expectations and secure necessary resources. Don’t Go at it Alone: Engaging a knowledgeable consultant can streamline the process and mitigate risks. Navigating NMTC transactions may be intricate, yet the potential benefits for QALICBs and their communities are profound. By embracing these insights and leveraging expert guidance, businesses can harness NMTC funding to foster sustainable growth and community impact. Impact Marketplace is here to provide QALICBs with expert guidance, resources, and connections in New Markets Tax Credit. Join our platform today, and let’s get started! https://lnkd.in/g7rD8jv5 #NMTC #CommunityDevelopment #QALICBs #SmallBusinessGrowth #ImpactInvesting

Novogradac's latest analysis reveals an important finding: every congressional district without any Qualified Low-Income Community Investments (QLICIs) still has eligible census tracts available. This means that there are many opportunities for community and economic development leaders to utilize New Markets Tax Credits for community impact. According to the article, “As of FY 2021, the NMTC has facilitated an impressive ratio of $8 in private investment for every $1 of federal funding, supporting more than 10,800 businesses, as reported by the CDFI Fund.” Our team at Impact Marketplace is here to assist Community Development Entities match with those private investment dollars. At Impact Marketplace, we are dedicated to harnessing the power of the New Markets Tax Credit (NMTC) program to foster impactful investments in underserved areas. Our platform provides Community Development Entities and Investors a front seat to some of the most impactful projects seeking NMTCs in the United States and assists organizations through the NMTC process with a dedicated team to access NMTC funding. https://lnkd.in/gn4S9vcC

We're thrilled that Module Building Systems was recently highlighted by the St. Louis Business Journal for their interest in relocating from Canada to St. Louis! Their cutting-edge modular solutions are transforming the industry by promoting efficiency and sustainability through new technology and building methods. We are proud to have Module Building Systems featured on the Impact Marketplace platform. Log into Impact Marketplace to learn more about this exciting project. Read more in the St. Louis Business Journal: link below Explore Impact Marketplace: https://lnkd.in/dczKGp3b https://lnkd.in/gbG28ZBS

𝐑𝐮𝐫𝐚𝐥 𝐖𝐢𝐬𝐜𝐨𝐧𝐬𝐢𝐧 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐨𝐧 𝐈𝐦𝐩𝐚𝐜𝐭 𝐌𝐚𝐫𝐤𝐞𝐭𝐩𝐥𝐚𝐜𝐞 𝐑𝐞𝐜𝐞𝐢𝐯𝐞𝐬 𝐀𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐦𝐦𝐢𝐭𝐦𝐞𝐧𝐭! We're thrilled to announce that the Flambeau River YMCA located in Park Falls, Wisconsin, recently received $8MM in NMTC Allocation commitments! This project aims to address critical community needs, including childcare, healthy living, and social responsibility, partnering with a regional healthcare clinic, a regional school district, and more to serve 2,700+ members annually. Stay tuned for more updates on this transformative project! #ImpactInvesting #CommunityDevelopment #YMCA #SustainableGrowth #ImpactMarketplace #NMTC

Elevate Your Manufacturing Business with NMTCs At the crossroads of innovation and expansion, NMTCs emerge as powerful catalysts for manufacturers. Fuel financial acceleration, empower local communities, and build collaborative partnerships. Discover how NMTCs are transforming the landscape for manufacturers. It's not just about profits; it's about positive change and lasting impact. Learn more in our recent blog: https://lnkd.in/gPARBxBj  #ManufacturingGrowth #NMTC #BusinessTransformation

𝐈𝐦𝐩𝐚𝐜𝐭 𝐌𝐚𝐫𝐤𝐞𝐭𝐩𝐥𝐚𝐜𝐞 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐂𝐥𝐨𝐬𝐢𝐧𝐠 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭 𝐢𝐧 𝐌𝐨𝐫𝐫𝐢𝐬𝐨𝐧, 𝐓𝐍. Impact Marketplace is proud to announce the successful closing of McNeilus Steel’s expansion project in Morrison, Tennessee. This transformative initiative has been supported by a $29 million New Markets Tax Credit (NMTC) Allocation, designed to spur community and economic growth in the region. 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: McNeilus Steel, an established leader in the steel service sector for over 75 years, has strategically expanded its operations to central Tennessee. This development is expected to leverage the area's untapped potential, introducing advanced technological capabilities and infrastructure improvements. 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐚𝐧𝐝 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐈𝐦𝐩𝐚𝐜𝐭: Job Creation: The project has generated 61 new full-time positions, addressing local employment needs and providing accessible job opportunities for individuals without college degrees. Wage Enhancement: Employees will earn wages significantly above the local living standard, contributing positively to economic stability in Morrison. Training Opportunities: The initiative includes programs for advanced skills training, promoting career advancement and ensuring the sustainability of the workforce. 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐯𝐞 𝐄𝐟𝐟𝐨𝐫𝐭𝐬: This project was made possible through the concerted efforts of financial institutions and community development entities, including Regions Bank, Pathway Lending, and Waveland Community Development. Their collaboration has been instrumental in harnessing the benefits of the NMTC program to foster substantial local development. We want to extend our gratitude to all parties involved for their assistance in ensuring a successful closing including: Courtney Nolan & Steve Ross @ Regions Bank, Brian Weaver & Chris Perkowski @ Stinson LLP, Ryan Congrove @ The Bernstein Companies, Sameer Patel & Megan Christensen @ Manatt, Phelps & Phillips, LLP, Neal Johnson @ Leverage Law, Mark Foster @ Foster Law, Clint Gwin @ Pathway Lending, Nate Voss @ Baker Tilly US and many others who assisted on this successful closing. 𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐅𝐨𝐫𝐰𝐚𝐫𝐝: Impact Marketplace looks forward to continuing our role in supporting such transformative projects. We are eager to collaborate with partners seeking to leverage New Markets Tax Credit financing for projects that drive substantial economic and community development. Reach out to discover how we can assist in turning your visionary projects into impactful realities. For those interested in learning how NMTC financing can support your projects, please connect with us. We are dedicated to helping realize plans that bring lasting benefits to communities like Morrison. #ImpactMarketplace #EconomicDevelopment #CommunityGrowth #NMTC #JobCreation #MorrisonTN #IndustrialExpansion https://lnkd.in/gri2mKse

Big things are in store for communities in East Saint Louis!   We are thrilled to have secured funding for the NEW Jackie Joyner-Kersee Food, Agriculture, & Nutrition Innovation Center (JJK FAN)! This funding makes it possible for the Jackie Joyner-Kersee Foundation to realize their mission of fostering STEAM-based leadership in underrepresented minority communities. With a $12M New Markets Tax Credit Allocation, the JJK FAN Center is poised to transform lives and inspire future leaders.    We love seeing the transformative impact that New Markets Tax Credit makes possible for incredible projects like the JJK FAN Center, and we are excited to play a role in making this impact possible! https://lnkd.in/gthNFeH4

𝐈𝐦𝐩𝐚𝐜𝐭 𝐌𝐚𝐫𝐤𝐞𝐭𝐩𝐥𝐚𝐜𝐞 𝐢𝐬 𝐥𝐨𝐨𝐤𝐢𝐧𝐠 𝐟𝐨𝐫𝐰𝐚𝐫𝐝 𝐭𝐨 𝐬𝐞𝐞𝐢𝐧𝐠 𝐞𝐯𝐞𝐫𝐲𝐨𝐧𝐞 𝐚𝐭 𝐭𝐡𝐞 CohnReznick LLP 𝟐𝟑𝐫𝐝 𝐀𝐧𝐧𝐮𝐚𝐥 𝐍𝐞𝐰 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐓𝐚𝐱 𝐂𝐫𝐞𝐝𝐢𝐭 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞, 𝐭𝐚𝐤𝐢𝐧𝐠 𝐩𝐥𝐚𝐜𝐞 𝐌𝐚𝐲 𝟏𝟑-𝟏𝟓 𝐚𝐭 𝐭𝐡𝐞 𝐋𝐨𝐞𝐰𝐬 𝐌𝐢𝐚𝐦𝐢 𝐁𝐞𝐚𝐜𝐡 𝐇𝐨𝐭𝐞𝐥. Join our team members Matt Drinen, Luke Pope, James Heffner, Jeff Frankel, and Boston Ziegler from Impact Marketplace as we will be meeting to discuss an array of impactful projects seeking New Markets Tax Credits. Our platform is dedicated to bridging project leaders with CDEs and NMTC investors to foster meaningful community development. If you are attending and would like to connect, please feel free to schedule a meeting with us by reaching out at team@impactmarketplace.com. Click to learn more about Impact Marketplace: https://lnkd.in/dczKGp3b #NMTC #Newmarketstaxcredit

𝐇𝐚𝐯𝐞 𝐘𝐨𝐮 𝐇𝐞𝐚𝐫𝐝 𝐀𝐛𝐨𝐮𝐭 𝐃𝐞𝐞𝐩 𝐃𝐢𝐬𝐭𝐫𝐞𝐬𝐬𝐞𝐝 𝐂𝐞𝐧𝐬𝐮𝐬 𝐓𝐫𝐚𝐜𝐭𝐬 𝐢𝐧 𝐍𝐌𝐓𝐂𝐬? 𝐘𝐨𝐮'𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐭𝐨. The CDFI Fund has recently invited public comments on proposed changes to the 2024 New Markets Tax Credit (NMTC) application, with a specific focus on enhancing support in "Deep Distress" areas, Federal Native Areas, and U.S. Territories. Impact Marketplace is actively updating our platform to align with these new proposed directives, making it easier for CDEs and Investors to identify and engage with crucial projects in these critical regions. To learn more about these significant updates, check out our detailed article below. We would love to hear your thoughts regarding the proposed updates. #NMTC #newmarketstaxcredit #communitydevelopment #CDFIFund https://lnkd.in/gHgw879y