What Are the NMTC Program’s Impacts on Local Economic Conditions?

Brief

What Are the NMTC Program’s Impacts on Local Economic Conditions?

Abstract

To understand how NMTC investments affect communities, we estimate the effects of different types of NMTC projects on their neighborhoods to determine whether those projects had the expected impacts. We find large increases in local economic activity following NMTC projects, including increases in the number of firms, jobs, residents with jobs, median income, and reductions in poverty. We also find an increase in the number of adults with college degrees that, although small, is large enough to account for the modest estimated increases in residents with jobs and wages and for much of the estimated decline in poverty.

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