New Market Tax Credits

The New Market Tax Credit (NMTC) was created by Congress to address the lack of capital available to business and community development ventures in federally defined defined tracts throughout the country. The census tracts qualify by being designated as either economically distressed or as areas of population loss and outmigration. The NMTC provides the incentive of a 39% federal tax credit to qualifying investors.

Eligible census tracks were originally based on the 2000 Census.  Now the 2006-2010 American Community Survey (ACS) data on income and poverty is being used to determine eligibility.  A transition period of May 1, 2012 to June 30, 2013 has been established.  During this period either the 2000 Census or the 2006-2010 ACS may be used to determine eligibility.  After this transition period the new ACS data will be used exclusively.

IADG works closely with the Iowa Community Development and Iowa Business Growth to help market this economic development tool. The attached maps detail qualifying census tracts throughout Iowa.

Call IADG at 800-888-4743 to learn more about Iowa Community Development, Iowa Business Growth and the New Market Tax Credit.

View 2000 Census County Maps       View 2006-2010 ACS County Maps