Maine’s New Markets Tax Credit Program and Improving Communities

Maine has seen a successful turnaround of some of this, however, with the 2001 introduction of the New Markets Tax Credit (NMTC). This tax credit program is intended to boost economies by attracting private capital to low-income, largely rural areas. This has attracted new investment capital, enterprises and diversified the economy. This program has been able to affect every sector, from farming to health care, and from service to manufacturing. This, in turn, has created a far reaching effect on the communities as well, introducing new technologies and services to underserved markets....
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