NMTC Extension Eases Minds of Industry Participants

Mark O’Meara, Staff Writer, Novogradac & Company LLP The recent five-year extension of the New Markets Tax Credit (NMTC) program provided an important thing: time. “NMTC stakeholders can be proactive in our long-term goals because we don’t have to dedicate our collective efforts toward the mere survival of the program, ” said National New Markets Fund President Deborah La Franchi. “We have a great opportunity because of the five-year extension. Rather than expending an intensive amo...

National New Markets Fund Expands Investment in Arkansas with Latest Tax Credit Project

SPRINGDALE, Ark., March 23, 2016 /PRNewswire/ -- Los Angeles-based National New Markets Fund, LLC is expanding its investment in Arkansas with a $10 million New Markets Tax Credit (NMTC) allocation to help fund development of an American Tubing Arkansas (ATA) facility in Springdale, about 50 miles northwest of Little Rock.   The ATA plant is the Fund's second major project in Arkansas. It follows a $15 million NMTC investment in the award-winning BlueOak Arkansas electronic scrap (e-sc...

LA Firm Secures $21M For Oklahoma Steel Mill Project

DURANT, Okla. — A Los Angeles-based company has secured $21 million in New Markets Tax Credit funds to build an environmentally sustainable steel manufacturing facility.   When completed in late 2017, The Commercial Metals Co. micro steel mill will utilize a production line process called “continuous-continuous, ” powered by an electric arc furnace.   The steel mill is expected to be capable of producing 380,000 tons of steel rebar from recycled scrap.   The new mill will...