Atlanta Emerging Markets, Inc. closed a $7,000,000 NMTC transaction to finance the redevelopment of a portion of the former Fort McPherson Army base into filmmaker Tyler Perry’s new movie studio facility. When the 487 acre Fort McPherson base closed in 2011 over 6,000 jobs were lost, devastating the local economy. This studio project is the first phase of the base’s redevelopment and will create over 2,000 jobs in Atlanta, with 80% of the new positions requiring a 2-year degree or less. In addition to providing construction financing, AEMI’s investment facilitated workforce development partnerships with local firms, including the Atlanta Workforce Development Agency, the Urban League of Greater Atlanta, and the Georgia Film Academy. Tyler Perry Studios will also hire a Community Engagement Coordinator to provide a direct link to the community and the surrounding neighborhoods.
program: New Markets Tax Credits