July 31, 2019
More than 1 in 4 states currently utilize New Markets Tax Credit (NMTC) programs as part of their economic development efforts. In the July 2019 issue of Novogradac’s Journal of Tax Credits, our chief impact officer Sandra Moore writes about the need for deep impact analysis – focused on each state’s key goals for the program as well as other outcomes, verifiable and clear – when evaluating the success of these programs.
Moore points to Advantage Capital’s participation in Maine’s New Markets Capital Investment Program (NMCIP) and our detailed analysis of program impact, by way of the investments we made. We looked closely at return to the state – both economic and social.
Not only did we find the program more than paid for itself (with an ROI of 1.73:1) but it also met program objectives. More than 300 good quality jobs were supported through our investment in four growing businesses. NMCIP investment also served as a signaling factor to other investors that Maine is open for business, a priority for the state.
As Moore explains, our analysis of the results led us to several broad impact themes, demonstrating the positive and lasting effects our portfolio investments have had on distressed communities throughout Maine.
To be sure, state NMTC programs will continue to evolve, yet comprehensive impact reporting will remain an essential element in demonstrating value. Read the full article here.
The investments, portfolio companies and recommendations listed on this website represent only a sample of companies that have received investment capital from Advantage Capital-related entities. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results. For a full list of companies, please click here.
