Delta Communities – New Markets Tax Credits:
A Tool for Development in the Delta

Register Now
Date:  Thursday, June 22, 2017
Time:  10 a.m.-1 p.m. CT
Location: The Bank
123 East Second St.
Clarksdale, Miss. 38614 (map it)

The New Markets Tax Credit (NMTC) program encourages community development and economic growth through the use of tax credits that attract private investment to under-resourced communities. Since the program was created in 2000, it has:

  • generated $8 of private investment for every $1 of federal funding;
  • created 178 million square feet of manufacturing, office and retail space; and
  • funded more than 5,400 businesses.

This convening will explore how the NMTC can be used to finance community and economic development in Delta communities. Annie Donovan, director of the Community Development Financial Institutions (CDFI) Fund, will discuss the current state of the NMTC industry and how the credit has been used successfully in rural communities across the U.S. Additionally, local speakers—a developer and an investor—will share how they have used the credit to ignite community and economic development.

Attendees will have an opportunity to participate in a roundtable discussion as the conversation moves from concept and local examples to future action.

Participation in this session is free; however, registration is required by Friday, June 16, as space is limited. Lunch will be provided.

For more information, please contact Mike Eggleston at 314-444-8610 or michael.c.eggleston@stls.frb.org.


Delta Communities Initiative

With an aim of strengthening communities across the Arkansas and Mississippi Delta region, the St. Louis Fed launched the Delta Communities initiative to build awareness through regional forums of promising tools and strategies for community and economic development. The meetings feature presentations from St. Louis Fed staff and regional and national representatives with experience in building and sustaining community and economic development efforts. Seven additional forums have been scheduled through the beginning of 2018. Please hold these dates:

2017

  • June 22
  • Aug. 3
  • Sept. 21
  • Oct. 19
  • Dec. 7

2018

  • Jan. 18
  • Feb. 28

Representatives from financial institutions, nonprofit organizations, small businesses, chambers of commerce, government entities and other local leaders are welcome to participate. While the forums will be held in Clarksdale, Miss., leaders from communities across the Delta region are encouraged to attend.