The tool is administered by the U.S Department of Treasury designed to attract capital to projects that support low- and moderate-income households and communities.
Since 2005, Michigan Community Capital has received $510 million in New Markets Tax Credit allocations and has remained the only CDE deploying efforts entirely in Michigan at a state-wide level. These awards were invested in projects such as the Allen Neighborhood Center in Lansing, Sugar Hill in Detroit, Hudsonville Creamery expansion in Holland, Peterson Farms in Hart, and UP Paper in Manistique. To date, MCC has invested NMTC allocations into more than 40 projects across the state resulting in over 5,000 full-time jobs created or retained, more than 800 housing units established, and the development of 3.45 million square feet of commercial, retail and industrial space.
