new markets tax credit program
Creating More Vibrant Neighborhoods
The URA's New Markets Tax Credits are an economic development tool that attracts private capital in low income neighborhoods through Federal tax credits.
​Pittsburgh Urban Initiatives
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The New Markets Tax Credit Program incentivizes community development by using tax credits to attract private investment in low-income communities.
The New Markets Tax Credit Program (NMTC Program) was established by Congress in 2000 to help bring operating businesses and/or real estate investments into low-income neighborhoods. The NMTC Program attracts investment capital to these communities by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities (CDEs).