Facilitating Community Growth
Iowa Business Growth is proud to connect businesses and lenders with the New Markets Tax Credit. This program was created by Congress to encourage development and provide capital to develop sections of underdeveloped and low-income communities. If you are interested in learning more about this program and if your project is eligible for the New Markets Tax Credit, please contact the IBG team.
New Markets Tax Credit Eligibility Requirements
The New Markets Tax Credit can provide 39% tax credit to qualified investors and projects. To meet eligibility requirements, the project must:
- Be located in an eligible census track. This is defined by the American Community Service survey on income and poverty using data collected from 2011-2015
- The project must be transformative in nature to provide value to the community and create new jobs in a low-income U.S. census tract
You can check the eligibility of your area, please click the button below to utilize the map resource.