Discover Central States Development Partners, Inc.

Central States Development Partners, Inc.(Central States), a wholly owned subsidiary of Economic Growth Corporation, is dedicated to advancing our mission through New Markets Tax Credit (NMTC) allocation and deployment, with a primary focus on real estate development in the industrial and manufacturing sectors. Our objective is to stimulate economic development, enhance community services, and create job opportunities in low-income areas.

As a certified Community Development Entity (CDE), Central States has secured seven federal NMTC allocations totaling $270 million alongside several state allocations from Illinois, Nevada, and Kentucky. By fall 2025, Central States will have deployed more than $320 million in federal and state New Market Tax Credits, positively impacting over 100,000 individuals. Alongside other non-affiliated CDEs, Central States has contributed to over $1.1 billion in total project costs and supported the creation of 15,000 jobs across 15 states. These investments help foster job creation, increase manufacturing, enhance healthcare and social services, and improve infrastructure in low-income communities. Discover how we’re making a lasting difference by clicking below.​

Impact

Central States closes on $2.2 Million Nevada State NMTC Allocation for St. Jude's Ranch for Children's Healing Center in Boulder City, Nevada

Central States Development Partners, Inc. closed on $2.2 million in State of Nevada New Markets Tax Credits (NMTC) to help finance the Healing Center at St. Jude's Ranch for Children- the only residential treatment center in Southern Nevada for child victims of sex trafficking, and one of only a few nationwide dedicated to moving young people from victim to survivor. The Healing Center is a $30 million total project investment, creating a unique, state-of-the-art campus with a trauma-sensitive design, and offers trauma-informed care, an on-site school, and specialized treatment to heal the mind, body, and spirit.

Central States closes on $10 Million Federal and $2.2 Million Nevada State NMTC Allocation for new youth facility in Las Vegas, Nevada

Central States Development Partners, Inc. closed on $10 million in federal New Markets Tax Credits (NMTC) and $2.2 million in Nevada State New Market Tax Credits to finance the construction and equipping of a 33,011-square-foot Youth Development Complex located in North Las Vegas, Nevada. Situated in a severely distressed community with a 31.9% poverty rate, median family income at 53% of the area median, and unemployment 2.44 times the national rate, this facility will serve 2,395 youth—86% of whom are low-income students, 90% low-income community residents, and 64% are expected to be from single-parent households. This $21.1 million project is located near three public elementary schools and will sit on five acres of land donated by the Clark County School District, which transferred the property to the County, and then to the Shaquille O'Neal Foundation, putting the project into motion. The site will provide services for individuals from infancy through 24 years of age, through the onsite Early Childhood Development Center, Boys & Girls Club of Southern Nevada, and Communities In Schools (CIS), including the country's first CIS Alumni Center, which will serve former CIS students, helping them navigate and succeed in their personal, academic, and professional lives. The project will retain 37 full-time jobs and create 10 full-time jobs.

Central States closes on $5 Million Federal and $3 Million Kentucky State NMTC Allocation for rural, Critical Access Hospital in Russell Springs, Kentucky

Central States Development Partners, Inc. closed on $5 million in federal New Markets Tax Credits (NMTC) and $3 million in Kentucky State NMTCs to support the expansion and rehabilitation of its current 38,000 square foot Critical Access Hospital in Russell Springs, Kentucky. Located in a rural, severely distressed community with a 25.4% poverty rate, the hospital stands as a critical healthcare provider for the region. This $27.6 million investment addresses a pressing need in a community where the resident-to-physician ratio is nearly 3,000:1—almost double the Kentucky state average of 1,550:1. The expansion is essential to meet growing demand for healthcare services and is expected to serve 19,512 unduplicated patients, with 49% anticipated to be low-income and 80% either uninsured or receiving Medicaid/Medicare. Russell Springs Hospital ensures access to affordable, high-quality healthcare for Russell County and the surrounding rural areas. It offers 24-hour emergency care, supports up to 25 patient beds, and provides acute care stays of up to 96 hours. Medical services include emergency medicine, family and general practice, hospitalist care, internal medicine, infusion therapy, sleep lab, wound care, pathology, radiology, and general surgery. This $27.6 million project will expand capacity, improve access to critical care, and significantly reduce the need for patients to travel long distances for treatment. In total, the project is expected to retain 242 full-time jobs and create 26 new full-time positions, all with access to a comprehensive employee benefits package, bolstering the local economy and reinforcing healthcare infrastructure in this severely distressed, rural area.

Central States closes on $10 Million NMTC Allocation for manufacturing facility in Augusta, Georgia

Central States Development Partners, Inc. recently closed on $10 million in federal NMTC to finance the construction and equipping of a 350,000 square-foot high-pressure die-casting aluminum parts manufacturing facility for GF Casting Solutions in Augusta, Georgia, with total project costs of $225 million. Located in a deep distressed community with a 37.1% poverty rate, median family income at 57% of the area median, and unemployment 3.13 times the national rate, this facility is bringing 354 manufacturing jobs to a primarily civilian labor force. Of those jobs, 94% are accessible to low-income individuals, and 73% are accessible to residents of the low-income community. Workforce development partnerships with local technical colleges and workforce agencies are in place to ensure long-term, continued benefits for the community. Jobs will offer competitive wages and comprehensive benefits, along with new programs including mentorship and career guidance to local youth. This project will strengthen domestic manufacturing, job creation, and expand opportunity in low-income communities. 

New Market Tax Credits

The New Markets Tax Credit (NMTC) Program is a highly effective and cost-efficient tool for driving meaningful change in low-income communities. Designed to spur private investment, the NMTC offers federal tax credits to investors, significantly increasing capital flow into severely distressed and deep distressed communities. These credits are used to finance manufacturing, healthcare, community facilities, bringing new life into areas that need it most. Community Development Entities (CDEs), like Central States, allocate NMTCs to qualifying businesses in severely and deeply distressed areas, promoting job creation, economic development, expanded community services, and improved healthcare access. These investments are crucial in transforming local economies and guiding them toward vitality and sustainable growth.​

Bringing Positive Change.

See how Central States is making a difference by supporting communities through enhanced amenities, improved access to quality jobs for low-income residents, and a strengthened tax base. These efforts are driving strong economic growth and long-term prosperity for low-income communities across America. 

Central States Drives Economic Growth with $270M in NMTC Allocations, Creating Jobs Nationwide

Central States has consistently demonstrated its leadership in economic development, and will deploy a total of $320 million through of federal and state New Markets Tax Credit allocations by fall 2025.  Central States has positively impacted over 100,000 individuals, fueled $1.1 billion in project investments, and supported the creation or retention of 15,000 jobs across 15 states. This track record highlights their pivotal role in driving transformative economic growth and job opportunities in low-income communities.

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Years of Experience Deploying NMTC

Jobs Created or Retained

Federal and State NMTC deployed by fall 2025

States