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

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7 months ago

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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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Press Release

One-Hour Payouts: Hola Prime Solves Prop Trading’s Biggest Problem

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5 minutes ago

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January 10, 2025

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New York, NY – 10/01/2025 – (SeaPRwire) – Hola Prime launched One-Hour Payment service to solve the biggest problem of Prop Trading. Delays in payouts have long been a source of frustration for traders in the prop trading industry. Many firms require traders to wait for days or even weeks, creating uncertainty and eroding trust. Hola Prime has turned this challenge into an opportunity to lead with innovation.

“Waiting for payouts can be incredibly stressful for traders, especially when they’ve worked hard to meet their profit targets. At Hola Prime, we’ve eliminated that stress by ensuring payouts are processed within an hour, ” said the CFO.

Behind the One-Hour Payout Process

Hola Prime’s payout system is built on meticulous checks and balances:

  • Compliance First: Every payout request is reviewed by a dedicated Compliance and Risk Management team to ensure it aligns with all regulatory and internal standards.
  • Finance Excellence: The firm employs a “maker-checker” system, a dual-verification process that minimizes errors and guarantees accuracy in every transaction.
  • Daily Payouts Calculation: Hola Prime monitors traders’ activities daily, ensuring payouts are calculated and kept ready with no delays.

This multi-layered approach ensures a seamless experience for traders. According to internal data, over 99% of Hola Prime’s payout requests are completed in under 60 minutes, significantly outperforming the industry average of 3-5 business days. Their average payout time is just 45 minutes.

To maintain this swift payout system, Hola Prime uses advanced forecasting to predict daily liabilities. This ensures the firm is always prepared to meet trader obligations, even during high-traffic periods.

“We don’t just react to payout requests; we prepare for them in advance. This proactive approach guarantees that our commitment to transparency and reliability is never compromised,” the CFO explained.

Furthermore, Hola Prime’s partnerships with top-tier Payment Service Providers (PSPs) like Rise and leading crypto platforms further enhance its payout efficiency. These relationships enable fast, multi-currency, and crypto-friendly transactions, ensuring traders worldwide receive their payouts seamlessly.

The CFO of Hola Prime shared an exciting update, announcing the availability of Hola Prime Visa Cards as a standard payout withdrawal method for traders. These cards allow traders to seamlessly access their earnings for online purchases, in-store transactions, and ATM withdrawals. This innovative feature highlights Hola Prime’s commitment to delivering convenience and setting new benchmarks in the prop trading industry.

In a market where days-long payouts are the norm, Hola Prime’s one-hour payout process sets a new industry standard. By prioritizing transparency, reliability, and speed, Hola Prime empowers traders to focus on what truly matters – their performance.

About Hola Prime

Hola Prime is a leading global proprietary trading firm with a strong presence in the UK, Hong Kong, Cyprus, Dubai, and India. Renowned for its commitment to transparency, Hola Prime serves prop traders across 175+ countries, offering access to over 50 trading instruments. The firm is dedicated to empowering traders with real-time risk management, advanced technological infrastructure, and a secure trading environment. Committed to fairness and trust, Hola Prime ensures seamless payouts, robust compliance, and a reliable trading experience. With multiple trading platforms and a focus on bringing freshness to the prop trading industry, Hola Prime is redefining the future of trading.

 

Social Links

Facebook: https://www.facebook.com/profile.php?id=61565158992654&sk=about_contact_and_basic_info

Instagram: https://www.instagram.com/holaprime_global/

YouTube: https://www.youtube.com/channel/UCtVEJa1Ml132Be7tnk-DjeQ

LinkedIn: https://www.linkedin.com/company/hola-prime/?viewAsMember=true

Twitter: https://x.com/HolaPrimeGlobal

Discord: https://discord.gg/TJ7TcHPXBf

Quora: https://www.quora.com/profile/HolaPrime/

Reddit: https://www.reddit.com/user/HolaPrime/

Medium: https://medium.com/@social_46267

 

Media Contact

Company: Hola Prime

Contact: Media Team

Email: marketing@holaprime.com

Website: https://holaprime.com/

SOURCE: Hola Prime

 

The article is provided by a third-party content provider. SeaPRwire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith.

Sectors: Top Story, Corporate News

SeaPRwire provides real time press release distribution for companies and organizations to 6,500+ media outlets & 3.5 million professional desktops in 90 regions. It distributes press releases in different languages, including: IndonesiaFolk, IndoNewswire, SEATribune, IDNewsZone, LiveBerita, DailyBerita, TaiwanPR, SinchewBusiness, AsiaEase, BuzzHongKong, SingapuraNow, TIHongKong, TaipeiCool, TWZip, AsiaFeatured, dePresseNow, THNewson, KULPR, VNFeatured, MENAEntry, HunaTimes, DubaiLite, ArabicDir, BeritaDaring, TekanAsia, JamKopi …

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Press Release

Keynode Unveils Game-Changing Update to Simplify Crypto Staking and Boost Accessibility

Published

51 minutes ago

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January 10, 2025

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Keynode, a crypto staking platform, has launched a new feature to make crypto staking great for all. This solves the major entry barriers to staking and aims to bring broader adoption of blockchain through simpler staking processes and more transparency.

The announcement shows Keynode’s commitment to remove technical barriers and give investors a way to interact with crypto staking platforms securely and easily. By making staking easier, Keynode lets users unlock their digital assets and participate in the networks with ease.

The Growth of Crypto Staking Platforms

Crypto staking is growing as the preferred way to earn staking rewards within blockchain ecosystems. Unlike traditional mining, crypto staking uses the Proof of Stake (PoS) consensus mechanism which is energy-efficient and eco-friendly. Investors who stake contribute to the network security and get crypto staking rewards from transaction fees and newly minted coins.

Keynode’s new update comes at a time when staking is getting more popular. As more blockchains adopt PoS models, crypto staking platforms that make staking rewards more accessible are becoming a must have.

A New Staking Rewards Era

The updates to the platform are part of a bigger trend in the industry: crypto staking platforms becoming user-centric hubs that focus on simplicity, security, and accessibility. By improving the staking experience, the crypto staking platform will attract a broader range of investors from beginners who want to explore digital assets to seasoned professionals looking for diversified opportunities.

One of the biggest changes in this update is the reduction of staking thresholds. Traditional staking methods require big investments and technical knowledge such as running a validator node or holding a minimum but high deposit to start crypto staking. The platform’s new system allows investors to stake with much lower amounts, making crypto staking more accessible to everyone.

Staking Made Easy

The platform now has a user-friendly interface to make staking of crypto assets easier. Investors can select their assets, stake them with a few clicks, and monitor their earnings. The system takes care of the technical aspects of crypto staking like syncing to the blockchain so that even first-time users can stake with confidence.

Besides ease of use, the staking platform also has 24/7 customer support to assist users at any stage of their staking journey. This focus on user experience means even those who are new to staking can navigate the platform. By working with regulated entities and implementing industry best practices, the platform safeguards users’ assets and it’s also compliant with global standards.

What This Means for Investors

This launch means investors have less barriers to earn passive income through crypto staking. Users can start crypto staking with smaller amounts and have support at their disposal.

This also fits with Keynode’s vision to empower users by offering staking plans that cater to different investment goals. Investors can choose staking plans that suits their needs from short term to long term.

The platform’s new feature is a stepping stone for future developments to make the crypto economy more accessible. As blockchain technology advances the staking platform will continue to support its users with more tools and resources to make participating in decentralized networks easier.

About Keynode

Keynode is a crypto staking platform that makes staking easier for investors worldwide. Security, flexibility, and user experience are their focus so that users can stake and earn rewards while being part of the blockchain technology.

For more information about Keynode and its latest updates, visit www.keynode.net.

Email: info@keynode.net

Phone: (+1) 678-310-6834

Location: 1325 Avenue of the Americas,New York City,United States,New York

Disclaimer: The information contained in this press release is not investment advice, and it is also not investment, financial, or trading advice. There are risks with cryptocurrency mining as well as with staking. There is a potential loss of funds, so you are strongly advised to make sure due diligence is done, consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.

Media Contact

Organization: KeyNode

Contact Person: Kiven Scott

Website: https://keynode.net/

Email: Send Email

Address: 1325 Avenue of the Americas, New City, NY, United States, New York

City: New York

Country: United States

Release Id: 10012522491

The post Keynode Unveils Game-Changing Update to Simplify Crypto Staking and Boost Accessibility appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

Revolutionizing Psychology: Asian Conference on Applied Psychology 2025 Unveils VR Networking and Global Collaboration

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1 hour ago

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January 10, 2025

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Singapore – 10/01/2025 – (SeaPRwire) – Mark calendars for a groundbreaking event that blends cutting-edge psychology insights with state-of-the-art technology – the Asian Conference on Applied Psychology (ACAP) 2025, hosted by East Asia Research, with the esteemed support of the Applied Psychological Research Program, Faculty of Psychology, Chulalongkorn University, and the Thai Psychology Association (TPA), will take place from 22-23 July 2025, online and at the Holiday Inn Singapore Atrium, Singapore.

In celebration of East Asia Research’s 10th anniversary, this year’s ACAP 2025 is redefining global collaboration by introducing an immersive Virtual Reality (VR) Meetup. This innovative feature provides a first-of-its-kind networking experience, seamlessly connecting both virtual and in-person attendees. With the academic endorsement of Chulalongkorn University’s Psychology Department, ACAP 2025 is set to be a landmark event for professionals, researchers, and students in applied psychology.

Mental Health and Well-being in a Diverse, Connected World

Under the theme “Mental Health and Well-being in a Diverse, Connected World,” ACAP 2025 invites academics, researchers, and professionals in applied psychology and related disciplines to present and discuss:

  • Recent innovations in applied psychology
  • Emerging trends and challenges
  • Practical solutions emphasizing mental health and well-being

Special focus will be placed on interdisciplinary approaches, addressing mental health and well-being in education, communities, workplaces, and online environments.

A Game-Changing Event like No Other

Highlights of ACAP 2025 include:

  • Southeast Asia Academic Powerhouse: Featuring an unparalleled lineup of sessions and research presentations, backed by Chulalongkorn University’s Psychology Department.
  • VR Meetup: Revolutionizing networking by enabling immersive connections among attendees, whether in-person or online.
  • Dr Ian Tim Heazlewood Best Paper Award: Honouring the most impactful psychology paper with this prestigious accolade.
  • Career Fair: Providing free display opportunities for academic institutions and creating meaningful connections between recruiters and top psychology talent.
  • Global Networking: A platform to foster enduring collaborations with leading experts, innovators, and peers shaping the future of applied psychology.

Empowering the Next Generation of Thinkers

For the first time, ACAP 2025 will unite in-person and virtual attendees in one shared space through VR technology, delivering an inclusive and transformative experience.

“We are redefining what it means to attend a global conference,” says Anthony Tan, Training and Development Head at East Asia Research. “With the support of Chulalongkorn University’s Psychology Department and the introduction of VR technology, ACAP 2025 promises to deliver an experience that is innovative, inclusive, and unforgettable. For the first time, in-person and virtual presenters will have the opportunity to meet in the same space.”

Join the Movement

Don’t miss this transformative event where psychology meets technology, and innovation meets opportunity.

Visit https://acap.ear.com.sg for registration and additional information.

About East Asia Research Pte Ltd

East Asia Research (EAR), based in Singapore, fosters intellectual exchange through inclusive and representative academic conferences and publications. Guided by Confucian principles, EAR promotes respect, integrity, and community, advancing research worldwide. Discover more about our other conferences at

2025 Asia-Singapore Conference on Sport Science

2025 Singapore Conference on Applied Psychology

2025 Asian Conference on Applied Psychology

2025 Asia-Pacific Conference on Economics & Finance

Media Contact

Anthony Tan, Training and Development Head

East Asia Research Pte Ltd

Email: anthonytan@ear.com.sg

Phone: +65 6203 3767

 

The article is provided by a third-party content provider. SeaPRwire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith.

Sectors: Top Story, Corporate News

SeaPRwire provides real time press release distribution for companies and organizations to 6,500+ media outlets & 3.5 million professional desktops in 90 regions. It distributes press releases in different languages, including: IndonesiaFolk, IndoNewswire, SEATribune, IDNewsZone, LiveBerita, DailyBerita, TaiwanPR, SinchewBusiness, AsiaEase, BuzzHongKong, SingapuraNow, TIHongKong, TaipeiCool, TWZip, AsiaFeatured, dePresseNow, THNewson, KULPR, VNFeatured, MENAEntry, HunaTimes, DubaiLite, ArabicDir, BeritaDaring, TekanAsia, JamKopi …

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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