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NMTC Funded 322 Projects, Nearly 60,000 Jobs Across the U.S. in 2023

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–News Direct–

The New Markets Tax Credit Coalition today released its 2024 New Markets Tax Credit (NMTC) Progress Report, the 20th edition of the reportproviding analysis of NMTC activities in 2023. The report was prepared by the NMTC Coalition, a national membership organization of Community Development Entities (CDEs) and investors organized to advocate for the NMTC. Every year since 2005, the NMTC Coalition surveys CDEs about their work, delivering billions of dollars to businesses, creating jobs, and rejuvenating the parts of the country that have been left behind. The annual NMTC Progress Report presents the findings of the CDE survey and provides policymakers and practitioners with the latest trends and successes of the NMTC.

This report shows the NMTC is an efficient and powerful tool that drives impactful investments to low-income communities, said Phil Glynn, NMTC Coalition Board Chair and President of Travois, a Certified B Corporation focused exclusively on promoting housing and economic development for American Indian, Alaska Native and Native Hawaiian communities. Two decades after its introduction, the NMTC remains one of the federal governments most effective tools for job creation and economic stabilization. These investments create high quality, accessible jobs in the communities that need them most.

Report highlights include:

JOBS AND INVESTMENT

  • 322 projects totaling $7.6 billion received $4.5 billion in NMTC allocation (at a ten-year cost to the federal government of $1.17 billion).
  • Projects generated 59,332 jobs in 2023, including 33,676 permanent full-time-equivalent (FTE) jobs and 25,656 construction jobs. The federal cost per job averaged under $20,000.

AREAS TARGETED

  • Projects in 49 states, the District of Columbia, and Puerto Rico.
  • Severe Distress: 84.5 percent of NMTC financing went to severely distressed communities and 28.1 percent to non-metropolitan counties.
  • A record 19 projects totaling $313.9 million in allocation (7.1 percent of all allocation) were in Indian Country or in majority-Native American, Native Hawaiian, or Native Alaskan census tracts.

EQUITY PRICING

  • NMTC equity pricing increased over the course of 2023. The median price reported was $.78, ranging from $.68 to $.92.

COMPONENTS OF PROJECTS

  • Jump-starting American Manufacturing: NMTC financing supported 89 manufacturing and industrial businesses with direct loans and equity investments for working capital, new equipment, or new or renovated industrial space, including shared, light industrial space for multiple manufacturing businesses.
  • Real Estate: NMTC financing supported the construction or renovation of 13.5 million square feet of real estate and the construction or renovation of 1,132 homes and rental units targeted at low-to-moderate-income households.

STRENGTHENING COMMUNITY ASSETS

  • Expanding Access to Healthcare: The NMTC expanded healthcare access for residents of low-income communities through 89 projects. Those projects included 49 federally qualified health centers, safety-net hospitals, and free clinics.
  • Expanding Access to Services: Sixty-one percent of projects (195) included at least one community facility, affordable housing, a nonprofit, or social service component. Those new community resources add up to nearly 350 nonprofits, health centers, childcare centers, libraries, community centers, and other community facilities and social service providers. Forty-two projects expanded access to vocational training, college and university facilities, financial education, support for entrepreneurs, or other adult education or workforce development programs.
  • Project Selection Trends: In comparison to early in the program (2003-2010), in recent years (2018-2023), NMTC projects are much more likely to support healthcare, manufacturing, co-located social services, food banks, and services for people experiencing homelessness.

This year, 80 CDEs participated in the survey. Their answers were supplemented by data from the Office of the Comptroller of the Currency, Open Corporate, Loopnet, annual reports, and other online materials from NMTC-financed businesses and nonprofits.

Over the course of two decades, the data show the NMTC not only delivers an unprecedented level of capital to low-income rural and urban communities, but it also creates much-needed jobshelping individuals and families thrive and, in turn, grows those local economies where they live and work. In fact, since 2003, the NMTC has created more than one million jobs, said Coalition spokesperson Bob Rapoza.

The report showcases the importance of the NMTC in providing more than two decades worth of patient, flexible capital to businesses and projects located in distressed rural and urban communities, thereby creating jobs and growing business opportunities. The NMTC financing ranges from traditional industry and community sectors to new and cutting-edge technology. Projects and businesses that benefited from the Credit in the past year include manufacturing, healthcare, schools, and many others supporting childcare, youth, and families.

Rapoza notes, This report demonstrates that the NMTC has a 20-year track record of working, and Congress should, once and for all, expand and make the Credit permanent. It has the potential to positively impact communities across the country for decades to come.

About New Markets Tax Credit Program–The New Markets Tax Credit (NMTC) was enacted in 2000 to stimulate private investment and economic growth in low-income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies. Since its inception, the NMTC has generated more than one million jobs. Today, due to the NMTC, over $135 billion is hard at work in underserved communities in all 50 states, the District of Columbia, and Puerto Rico. For more information, visit www.NMTCCoalition.org.

Contact Details

Greg Wilson

+1 571-239-7474

gregwilsonpr@gmail.com

Company Website

https://nmtccoalition.org/

View source version on newsdirect.com: https://newsdirect.com/news/nmtc-funded-322-projects-nearly-60-000-jobs-across-the-u-s-in-2023-640480853

New Markets Tax Credit Coalition

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24Newswire.com Sets the Gold Standard in Press Release Distribution with Unmatched Reach and Results

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24Newswire.com delivers reliable and results-driven press release distribution services for businesses of all sizes. From corporate announcements to event promotions, the platform makes it easy to distribute press releases to thousands of top-tier media outlets worldwide. Designed for maximum visibility and brand impact, 24Newswire offers strategic targeting, real-time reporting, and one of the most effective solutions for business PR distribution and event news distribution available today.

New York, NY – In today’s fast-paced digital age, getting noticed is more challenging than ever. Enter 24Newswire.com, a leading platform revolutionizing the way businesses and organizations distribute press releases. Offering one of the best press release distribution services in the industry, 24Newswire.com is designed to amplify visibility, increase brand credibility, and reach global audiences through powerful media networks.

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Best Press Release Distribution Services: At 24Newswire.com, we pride ourselves on being among the best press release distribution platforms globally. Our platform provides industry-leading exposure by tapping into targeted and authoritative media outlets.

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Still wondering “how to press release distribution” effectively? 24Newswire.com makes it simple. Just choose your package, submit your content, and we take care of the rest—from editorial review to global distribution. Our user-friendly interface is perfect for both PR professionals and first-time users.

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24Newswire.com is a trusted name in press release distribution services, helping brands, agencies, and organizations across industries communicate their stories to the world. Backed by a team of seasoned PR professionals and cutting-edge technology, 24Newswire delivers comprehensive distribution, maximum media exposure, and tangible results.

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24 Newswire Expands Global Reach with New AI-Powered Features and Strategic Partnerships

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24Newswire.com offers one of the best press release distribution services for businesses and individuals looking to distribute press releases globally. With a vast network of over 15,000 media outlets, the platform helps you amplify your message through professional press release distribution. Whether it’s Business PR Distribution or Event News Distribution, 24Newswire.com ensures high-impact results and real-time analytics to track success.

Following the successful launch of its groundbreaking media platform, 24Newswire is thrilled to announce a major expansion, introducing advanced AI-powered features and strategic partnerships to further revolutionize news distribution. This next phase solidifies 24Newswire’s position as a leader in the media technology space, empowering storytellers worldwide with unparalleled tools to amplify their voices.

Building on Early Success

24Newswire has transformed how businesses, journalists, and creators share news, with over 10,000 users distributing stories to millions of readers globally. The platform’s intuitive design, robust analytics, and commitment to accessibility have earned it widespread acclaim. Now, 24Newswire is taking its mission to the next level with enhancements designed to meet the evolving needs of the media landscape.

 

 

Introducing AI-Powered Innovations

24Newswire is rolling out a suite of AI-driven features to enhance user experience and maximize impact:

Smart Content Optimization: AI algorithms analyze press releases in real time, suggesting improvements to boost readability, SEO performance, and audience engagement.

Predictive Audience Targeting: Leveraging machine learning, the platform identifies the most relevant journalists, influencers, and media outlets for each story, increasing the likelihood of coverage.

Automated Multimedia Integration: Users can now seamlessly embed images, videos, and infographics into their releases, with AI ensuring optimal formatting across devices and platforms.

Sentiment Analysis: A new tool provides insights into how audiences are likely to perceive a story, helping users refine their messaging before distribution.

Voice-to-Text Press Release Creation: For users on the go, 24Newswire now supports voice dictation, converting spoken words into polished press releases in seconds.

These features build on the platform’s existing strengths, such as automated formatting, multilingual support, and real-time analytics, making 24Newswire the most comprehensive news distribution service available.

Strategic Partnerships to Amplify Reach

To expand its global footprint, 24Newswire has forged partnerships with leading media organizations, technology providers, and educational institutions:

Global Media Networks: Collaborations with major news aggregators and regional outlets ensure stories reach diverse audiences across North America, Europe, Asia, and beyond.

Tech Integrations: Partnerships with cloud storage providers and social media platforms streamline content sharing, while integrations with CRM systems enhance PR workflows.

Educational Outreach: 24Newswire is working with journalism schools to offer free access to students, fostering the next generation of storytellers. “We want to empower young journalists to share their perspectives with the world,” said Doe.

These partnerships underscore 24Newswire’s commitment to creating a connected, inclusive media ecosystem.

Empowering Communities Worldwide

At the heart of 24Newswire’s mission is a dedication to accessibility and equity. The platform has expanded its free tier to include more features for small businesses, nonprofits, and independent creators, ensuring that financial barriers don’t silence important voices. Additionally, 24Newswire has launched a Global Voices Initiative, providing pro bono distribution services to organizations in underserved regions.

A Vision for the Future

Looking ahead, 24Newswire plans to introduce a mobile app, virtual reality press release previews, and enhanced support for podcast and Press Release distribution

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24Newswire Unveils Revolutionary Platform to Transform Global News Distribution

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24Newswire.com is a leading press release distribution service that empowers businesses, agencies, and organizations to distribute press releases globally with ease and impact. Trusted for its wide media reach and real-time analytics, the platform offers tailored solutions for business PR distribution, event news distribution, and more.

United States, 30th Apr 2025, King NewsWireIn an era where information travels faster than ever, 24Newswire proudly announces the launch of its state-of-the-art media platform, designed to redefine how news is shared, consumed, and amplified across the globe. This innovative solution addresses longstanding challenges in the media industry, offering a seamless, efficient, and accessible way for journalists, businesses, public relations professionals, and content creators to distribute their stories to audiences worldwide.

A New Era for News Distribution

The launch of 24Newswire marks a significant milestone in the evolution of media technology. Built from the ground up with user experience and scalability in mind, the platform combines cutting-edge automation with intuitive design to empower users of all backgrounds. Whether it’s a small business announcing a product launch, a nonprofit sharing a milestone, or a journalist breaking a major story, 24Newswire ensures their message reaches the right audience at the right time.

 

At 24Newswire.com, we specialize in high-performance press release distribution services that help brands, organizations, and professionals gain instant visibility across leading media channels. Whether you need business PR distribution, event news distribution, or global brand exposure, our platform is designed to deliver real results.

Why Choose 24Newswire.com?

Global Syndication Network
Your press release for distribution is syndicated to over 15,000 verified news outlets, including Google News, Yahoo Finance, MarketWatch, AP News, and more.

Tailored Industry Targeting
Choose your niche and let our algorithm distribute your content to the most relevant journalists, bloggers, and platforms.

Real-Time Performance Analytics
See exactly how press releases are distributed, viewed, and shared. Measure ROI with ease.

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We offer affordable, scalable, and customizable options—ideal for startups, corporates, agencies, and solo professionals.

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Press Release Drafting & Editing
Need support creating professional content? Our editorial team helps craft compelling messages optimized for media pickup.

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Upload your press release, select a distribution plan, and track its performance—all from a user-friendly dashboard.

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Our platform is agency-friendly and fully white-labeled for PR firms and resellers.

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Trusted by Thousands

From tech startups to Fortune 500s, companies trust 24Newswire.com to distribute press releases effectively and professionally. Our reputation as one of the best press release distribution services is backed by consistent results and client satisfaction.

Key Features Driving Innovation

24Newswire introduces a suite of powerful features tailored to meet the demands of today’s fast-paced media landscape:

Automated Press Release Formatting: The platform’s intelligent system guides users through creating professional-grade press releases, ensuring compliance with industry standards while saving time and effort.

Targeted Distribution Networks: Users can select from curated lists of media outlets, journalists, and influencers, ensuring their news reaches the most relevant audiences.

Real-Time Analytics Dashboard: Comprehensive metrics provide insights into how stories perform, including views, shares, and engagement across platforms.

Credibility Verification System: To combat misinformation, 24Newswire employs advanced verification protocols to ensure only credible sources are amplified.

Multilingual Support: With built-in translation tools, users can distribute their news in multiple languages, breaking down geographic and linguistic barriers.

Integration with Social Media and SEO Tools: The platform optimizes content for discoverability, helping stories rank higher on search engines and gain traction on social media.

These features, combined with a commitment to affordability, make 24Newswire a versatile solution for organizations of all sizes.

Commitment to Accessibility and Inclusion

One of 24Newswire’s core principles is democratizing access to media tools. The platform offers tiered news Distribution pricing plans, including a free option for small organizations and independent creators, ensuring that financial constraints don’t prevent important stories from being told. Additionally, 24Newswire has partnered with nonprofit organizations to provide pro bono services to underserved communities, amplifying voices that are often overlooked.

“We believe every story matters,” said Doe. “Whether it’s a local charity raising awareness or a global brand launching a new initiative, we’re here to help them connect with the world.”

Looking Ahead

As 24Newswire rolls out globally, the company is already planning enhancements to further revolutionize the industry. Upcoming features include AI-driven content personalization, expanded integrations with podcast and video platforms, and a mobile app for on-the-go news distribution. The company also aims to establish regional hubs in Europe, Asia, and Latin America to better serve its growing international user base.

 

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