On Wednesday, July 15th, Arkansas Capital Corporation announced that is received an additional $35 million in federal New Markets Tax Credits (NMTC) allocations. These credits will be deployed this fall for use in various economic and business development projects. Its NMTC portfolio is managed by Arkansas Capital Corporation's subsidiary, Heartland Renaissance Fund, which has received and managed over $330 million in NMTC allocations since the program began in 2003. The NMTC program is designed to incentivize investors and private capital sources the financing of projects in low-income and rural communities, projects that can have a positive economic impact, create jobs and benefit communities in other ways.
More below:
https://arcapital.com/community-development-finance/
https://www.irs.gov/businesses/new-markets-tax-credit-1
https://www.cdfifund.gov/Documents/NMTC%20Fact%20Sheet_Jan2018.pdf