The CDFI Fund released data on the first twelve rounds of New Markets Tax Credit investments, from 2003-2014. The data covers 4,541 total Qualified Active Low-Income Community Businesses and almost $38.5B in NMTC investments.

Purpose of Investment  

Amount of Investment

 Percent
of Total QLICIs		 Number of QLICIs  

Percent of Total
Investment
Operating Business $12,098,992,430 31.4 3,755 36.7
Microenterprise $398,684 0.0 24 0.2
Other financing purpose $626,355,594 1.6 171 1.7
Real Estate –Construction/Permanent/

Acquisition w/o Rehab –Commercial

  

$13,995,680,648

  

36.4

  

3,223

  

31.5
Real Estate – Construction– Housing- Multi Family  

$135,972,881

  

0.4

  

45

  

0.4
Real Estate – Construction – Housing

-Single Family

  

$342,923,464

  

0.9

  

119

  

1.2
Real Estate – Rehabilitation–Housing

– Single Family

  

$60,852,029

  

0.2

  

22

  

0.2
Real Estate – Rehabilitation–Housing

– Multi Family

  

$70,384,063

  

0.2

  

25

  

0.2
Real  Estate–Rehabilitation– Commercial  

$11,146,607,269

  

29.0

  

2,855

  

27.9
Total $38,478,167,063 100.0 10,239 100.0

Table 2: NMTC Investment by Purpose of Investment

 

1,985 QALICBs (43.7%) were Real Estate QALICBs and they received over $19.4B (50.4% of all investments). Beyond that, 66.9% of all investments were used for the purpose of real estate development or leasing activities (non-real estate type businesses may direct investments towards real estate purposes). The bulk of this, however, is attributable to commercial real estate. As for housing, multifamily rehab and new construction accounted for 0.6% of all investments, or roughly $206M.

The most recent year of reporting, 2014, shows that every allocatee devoted at least 75% of investments to areas of higher distress. The data release shows specifically where investments were made, providing data on city, state, zip code, and census tract, as well as breaking down data by metro and non-metro as seen below:

Metro/Non-

Metro

 Amountof

Investment

 PercentofTotal

Investment

 Numberof

QALICBs

 PercentofTotal

QALICBs
Metro $31,933,537,915 83.0 3,704 81.6
Non-Metro $6,053,446,174 15.7 807 17.8
Both $491,182,973 1.3 30 0.7
Total $38,478,167,063 100.0 4,541 100.0

Table3:NMTCInvestmentsinMetropolitanandNon-MetropolitanAreas

State-by-State:

The following table was compiled by NH&RA. Using the NMTC data, the sum investment of all QLICIs was determined for each state, the District of Columbia, and Puerto Rico to show the total amount invested in each from 2003-2014.

Rank State Total Investment in QLICIs
1 CA $3,393,090,388.31
2 NY $2,922,944,866.03
3 LA $2,464,250,207.81
4 OH $1,974,235,524.95
5 MA $1,834,742,592.39
6 MO $1,632,511,591.95
7 WI $1,614,161,530.81
8 PA $1,390,891,648.34
9 TX $1,242,712,494.09
10 IL $1,155,177,100.75
11 WA $1,120,456,505.00
12 MI $1,076,019,061.00
13 NJ $1,050,644,746.15
14 MN $1,005,553,469.80
15 FL $970,193,059.64
16 MD $933,399,484.12
17 MS $873,166,902.00
18 OR $843,812,805.54
19 NC $837,068,510.71
20 DC $750,816,912.26
21 KY $732,706,837.51
22 AZ $692,522,041.09
23 SC $658,252,518.00
24 VA $644,487,513.00
25 GA $600,156,479.00
26 OK $574,519,904.00
27 CO $448,600,030.05
28 RI $404,540,562.20
29 ME $393,632,180.04
30 IN $385,736,113.00
31 TN $369,877,856.30
32 CT $354,660,781.25
33 IA $349,557,032.00
34 AL $320,473,205.03
35 AR $271,662,441.34
36 AK $255,368,128.60
37 UT $253,221,249.15
38 NM $220,579,869.00
39 NH $200,973,598.00
40 MT $194,173,100.00
41 VT $175,322,586.00
42 NE $146,042,521.00
43 SD $131,740,000.00
44 DE $105,580,069.00
45 WV $97,518,932.50
46 HI $96,468,229.00
47 ID $95,093,900.00
48 ND $69,110,892.00
49 KS $58,492,416.00
50 PR $47,787,942.00
51 NV $29,902,203.00
52 WY $13,431,532.00