New market tax credits in rural america=                        2,007 jobs and $110 million new investment

Central States Development Partners, Inc. (Central States) is a nationwide Community Development Entity (CDE) that was formed by its parent non-profit, Economic Growth Corporation to serve and provide investment capital for low-income communities or low-income persons.

Since its formation in 2009, Central States has sought to bring critical jobs, services and goods to low income communities. 

In February 2016, Central States Development Partners, Inc. (Central States) closed on its first ever $45 Million New Market Tax Credit (NMTC) allocation award with the U.S. Department of the Treasury. 

The investments made to date will support more than $110.82 Million in project costs, creating 1425 jobs, 360 construction jobs and 222 indirect jobs. Up to 90% of the new jobs created will benefit low income persons. 
      
Projects receiving NMTC allocations serve highly distressed markets in Illinois, Iowa, and Indiana that have exhibited high rates of rent burden, low-median worker rates compared to the area, and high percentages of poverty.

Within four months of closing on its first New Market Tax Credit (NMTC) Allocation Award with the U.S. Department of Treasury, Central States has closed and/or allocated one hundred percent (100%) of its $45 Million award.New Market Tax Credit financing was an integral part for these projects to move forward.Many considerations are given for New Market Tax Credit financing, with prioritization relying predominantly on the level of distress, the level of job creation, quality, accessibility and advancement opportunities, access to affordable fresh food or community services, project innovation with proven approaches that support business growth, and the viability of a project to support the ongoing growth of the community.

For more information about New Market Tax Credits, please contact Brian Hollenback, President/CEO of Central States Development Partners at bhollenback@centralstates.us.com. 

2017 Mid-Year Report 

November 2016 New Market Tax Credit Award Release
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​In accordance with federal law and the U.S. Department of the Treasury policy, Central States Development Partners, Inc. is prohibited from discriminating on the basis of race, color, national origin, sex, age or disability.  To file a complaint of discrimination, write to Department of the Treasury, Office of Civil Rights and Diversity, 1500 Pennsylvania Ave. NW, Washington D.C., 20220 or call (202) 622-1160.