Vermont Rural Ventures has used the New Markets Tax Credit (NMTC) program to provide favorable financing of millions of dollars for economic development projects in low-income areas, which has created a positive impact.
Vermont Rural Ventures uses NMTC resources to support investment in the economic, environmental, and social well-being of Vermont communities. NMTC funds are used to retain and create jobs for Vermonters by financing key community developments in downtown and village centers and in other concerted community efforts which demonstrate positive impacts on Vermont’s economic, health care, energy and food systems. VRV’s allocations of NMTCs is used to create and retain jobs and essential services for Vermonters.
To date, our NMTC allocation has brought $41.9 million of new capital to Vermont.
An example of the impact of VRV’s investments on a regional basis is shown below for Windham County.