New Markets Tax Credit Program
Creating More Vibrant Neighborhoods
The New Markets Tax Credit Program incentivizes community development by using federal 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).
Pittsburgh Urban Initiatives (PUI), a URA affiliate and certified CDE, catalyzes investments in City of Pittsburgh neighborhoods by applying for and facilitating New Markets Tax Credits.