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New Markets Tax Credits

Investing in economic development projects with lasting impact

Our New Markets Tax Credit (NMTC) program supports high-impact community development projects that benefit underserved areas. Fueled by allocations of tax credits from the US Department of the Treasury, the program facilitates private investments and lowers the cost of capital for community and economic development projects that create quality jobs and long-term opportunities for low-income people and communities. BlueHub Capital has received ten allocations totaling $608 million from this very competitive program.

Our investment strategy

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Lyme Cross City Forest in Dixie County, FL.
Photo by Lyme Timber Company

We identify high-impact projects in low-wealth areas that, without the substantial below-market private investment from the NMTC, could not get off the ground or expand. Typically, these projects are community facilities, manufacturing plants or commercial developments that deliver high-quality, sustainable jobs or services for local residents. We then bring in national equity investors to finance these projects at very favorable rates, providing savings that make the projects economically sustainable.

BlueHub Capital takes a three-pronged approach to NMTC investments:

  1. Invest in projects large enough to strengthen local industry and diversify the economic base, as well as provide high-quality, accessible jobs and needed community services and goods to low-wealth regions
  2. Work with co-lenders and investors that have relevant regional experience
  3. Structure our investments to generate sustainable social and financial returns

Where we work

We work nationally and have deployed NMTC allocations in 20 states. We partner on community and economic development projects in the nation’s most underserved rural and urban communities, including these examples:

  • Community facilities such as a healthcare center, social service organization and schools in Connecticut, Tennessee, North Carolina and Massachusetts
  • Food manufacturers in Tennessee and Georgia
  • Commercial real estate redevelopment projects in Texas, North Dakota, Virginia and Connecticut
Map of the US indicating the 22 states where BlueHub has made NMTC investments and target states identified by the CDFI Fund: TX, GA, FL, TN, VA, WV

Our NMTC impact


Jobs created and retained


Acres of forestland sustainably managed


Square feet of commercial real estate constructed or rehabbed


In NMTC allocations from the US Treasury Dept.


Additional capital leveraged for communities we serve


Of our NMTC investments have been in rural/suburban areas

BlueHub Loan Fund also makes NMTC leverage loans to support community health centers, childcare facilities and charter schools. We double the impact of the NTMC allocation by using earnings to launch new initiatives and expand our core lending programs, including BlueHub Loan Fund, BlueHub SUN’s foreclosure relief lending and BlueHub Energy.

Contact us

Emily Kaminsky

Director of Impact and Compliance Finance

Emily is responsible for grants management, investor compliance, impact reporting and BlueHub Capital’s Impact Program and New Markets Tax Credit program.

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