The U.S. Department of the Treasury awarded $165 million in new market tax credits, a federal incentive program created to encourage private investment in low-income and economically distressed areas, to three community development entities in South Carolina.
The recipients are:
- TD Community Development Corp. of Greenville – $65 million.
- The Innovate Fund of Greenville – $50 million.
- South Carolina Community Loan Fund of Charleston – $50 million.
The treasury department distributed $5 billion in NMTC among 102 community development entities across 36 states and Washington, D.C., that work to spur investment and economic growth in low-income urban and rural communities.
For a complete list of NMTC recipients, click here.
