New Markets Tax Credit Program
New Markets Tax Credit Program
NMTC Financing
Our NMTC investments are concentrated on three strategic pillars: job creation, healthcare access, and workforce development. We partner with potential borrowers, investors, and lenders to ensure that each project we finance provides tangible community impacts.
Job Creation: To lift families and individuals from poverty into the middle class, we invest in manufacturing/industrial businesses that offer high-quality jobs accessible to individuals who face barriers to employment.
Healthcare Access: We invest in healthcare facilities to ensure that rural communities have access to high-quality medical care.
Workforce Development: We invest in programs that equip individuals with the skills to meet labor market demands and strengthen local economies by fostering a skilled and adaptable workforce.
River Gorge Capital, a subsidiary of BrightBridge, helps economically distressed communities attract private investment capital through the New Markets Tax Credit (NMTC) Program. This federal tax credit helps to fill project financing gaps and enables investors to make larger investments than would otherwise happen. NMTC financing is used for impactful projects in qualified census tracts that provide community services or have significant job creation or retention.
Since BrightBridge began participating in the NMTC program in 2003, we have received $207 million in federal and $18 million in state NMTC allocations, deploying capital to 36 projects that have created over 6,300 permanent jobs and supported essential community services in education and healthcare.
Services
Consulting
In addition to financing projects with our allocation, we leverage our 20+ years of experience and relationships in the industry to provide consulting services to projects and their sponsors. As consultants, we help the sponsor understand how the financing works and help them obtain NMTC allocation from other allocatees. By educating the project sponsor about NMTCs, sourcing the allocation, coordinating the closing process, and being available post-closing, we are with our client every step. We have successfully closed more than $133 million in NMTC awards for our consulting projects.
Recently Funded Projects
Cooper Steel
Location: Shelbyville, TN
Project Type: Construction, equipment and working capital for a steel fabricating facility, creating jobs and providing community support in a non-metro area
Beauregard Health System
Location: DeRidder, LA
Project Type: Renovation and expansion of a rural hospital, increasing access to quality healthcare and safety of patients and staff
Goodwill East
Location: New Orleans, LA
Project Type: Acquisition and renovation of a formerly vacant property, providing workforce development opportunities for 4,000 community members
Contact Us
Contact us for more information about our consulting services or New Markets Tax Credit financing. If you have a project located in a severely distressed census tract with a funding gap, we would be glad to discuss how we can bring the benefits of this program to your community.
