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New Markets Tax Credits (NMTC)

Published on January 11, 2011 - 5:41pm
Eligible Business Type: 
Office
Industrial
Eligible Business Size: 
25-100 employees
100+ employees
Administrator: 
Federal
Benefits: 
  • Provides federal income tax credits to financial institutions that invest in a Community Development Entity (CDE), which in turn uses funds to provide capital to projects in low-income communities.
  • The Chicago Development Fund (a City-controlled CDE) will finance projects involving industrial expansion, grocery-anchored retail developments in "food desert" areas and cultural or community facilities.
  • The New Markets Development Program provides supplemental funding for investment entities that have been approved for the Federal New Markets Tax Credit (NMTC) program in order to support small and developing businesses by making capital funds more easily available.
Eligibility: 

Business must be located in a federally-designated census tract.

Links: 
Chicago Development Fund
Source: 
City of Chicago

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Credits: Thanks to the City of Chicago Data Portal for providing many of these map layers, and to Derek Eder for cleaning some of them up. Thanks to Rofo.com for providing the commercial real estate layers. If there are other properties you'd like to see listed you can add them through Rofo.

Disclaimer: The Site Selector app is for estimation purposes only. World Business Chicago makes no representations as to accuracy, completeness, correctness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information. Identified incentive programs are under the exclusive control and administration of the City, County and State respectively. All information is provided on an as-is basis. Please contact us for more information on the best place to locate your business.

Amenities & Other Mappables
Listings courtesy of Rofo.com are a snapshot of properties available. Please contact us for a full consultation.
Listings courtesy of Rofo.com are a snapshot of properties available. Please contact us for a full consultation.
Areas zoned for commercial and industrial use
Zoned to limit residential development in manufacturing areas in order to maintain real estate prices
Uses tax levies to assist organizations & businesses within designated areas with projects including maintenance, beautification, marketing, advertising, security.
Theaters and performing arts centers
Roads with cycle lanes and other bicycle-friendly paths
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Public and private
For detailed information visit TransitChicago.com
For detailed information visit TransitChicago.com
For detailed information visit MetraRail.com
For detailed information visit MetraRail.com
Public and private
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