New Markets Tax Credits

For projects $5 million or greater

Atlanta Emerging Markets, Inc. (AEMI) offers flexible financing to businesses and real estate projects using federal New Markets Tax Credits (NMTC). Our NMTC program aims to attract private investment to Atlanta’s underserved neighborhoods and financially support catalytic projects that provide services or create quality jobs accessible to low-income residents.

Businesses or developers with projects located in Census designated low-income neighborhoods can apply for NMTC to finance the construction of new facilities, purchase equipment, or for operating expenses.

Total project costs must be $5 million or greater to be eligible for the NMTC program.


Established by Congress through the Community Renewal Tax Relief Act of 2000, the federal New Markets Tax Credits program has successfully used tax credits as a financial catalyst for private sector investment in low-income communities. AEMI’s NMTC program and has received $258,000,000 of allocation from the U.S. Department of the Treasury since 2007 and has deployed over $210,000,000 to eighteen projects in the City of Atlanta.

How it Works

AEMI is awarded federal NMTC allocation from the U.S. Department of the Treasury after a competitive application process. We then sell the tax credits to private investors, typically national banks, in exchange for equity capital to inject into a local project that demonstrates strong community impact.

The equity received from private investors, typically 20% of the total project cost, is then combined with the local developer’s capital stack and distributed to the project as a loan. The debt financing is typically structured as a 7-year interest only loan, with interest rates of 1-2%. However, at the end of the loan term the project sponsor is typically offered debt forgiveness on the portion provided by the private investor, which often results in about 20% of the loan not having to be repaid.  This provides the developer/business a significant incentive after the 7 year loan term.

Since 2007, AEMI has been awards $258 million of NMTC allocation.


2007 Round


2008 Round


2012 Round


2013 Round


2015 Round


2017 Round


Flatiron Building

Entrepreneur Center


Southside Medical Center

Health Clinic Improvements


Grady Memorial Hospital Expansion

Emergency Department Expansion


Center for Civil and Human Rights

Conference Center + Museum


Atlanta Advantage Loan Fund

Business Revolving Loan Fund


200 Peachtree Building

Macy's Building Conversion


Aerotropolis Atlanta

Autoplant Redevelopment


Georgia Aquarium Expansion

Aquarium Facility Expansion


Families First Headquarters

Family Services Center


Fort McPherson

Tyler Perry Studios


Sheltering Arms

Early Education Center


Cristo Rey Atlanta

High School


Grady Memorial Hospital

Women and Infant's Center


YMCA of Metro Atlanta

Leadership and Learning Center


Pittsburgh Yards

Light Industrial Center


Boys and Girls Club of Metro Atlanta

Harland Club Facility








total allocation awarded