Discover Central States Development Partners, Inc.
Central States Development Partners, Inc. is a wholly owned subsidiary of Economic Growth Corporation, established to further its mission through New Markets Tax Credit allocation and deployment, with a primary focus on real estate development in the industrial and manufacturing sectors. Our goal is to drive economic development, enhance community services, and create jobs opportunities in low income areas.
As a certified Community Development Entity (CDE), Central States has secured seven federal NMTC allocations to date totaling $270 million, including its recent $50 million in the 2023 allocation round. Our previous allocation of $220 million has helped deliver critical services to over 98,000 individuals. Alongside other non-affiliated CDEs, Central States has supported over $842 million in total project costs and contributed to creating 12,676 jobs across 15 states. In addition to federal allocations, we have secured State NMTC allocations in Illinois, Nevada, and Kentucky, further extending our impact. These investments foster job creation, increase manufacturing, enhance healthcare and social services, and improve infrastructure to low-income communities.
As a wholly owned subsidiary of Economic Growth Corporation, Central States is committed to driving meaningful change through innovation and collaboration. Discover how we’re making a difference by clicking below.
As a certified Community Development Entity (CDE), Central States has secured seven federal NMTC allocations to date totaling $270 million, including its recent $50 million in the 2023 allocation round. Our previous allocation of $220 million has helped deliver critical services to over 98,000 individuals. Alongside other non-affiliated CDEs, Central States has supported over $842 million in total project costs and contributed to creating 12,676 jobs across 15 states. In addition to federal allocations, we have secured State NMTC allocations in Illinois, Nevada, and Kentucky, further extending our impact. These investments foster job creation, increase manufacturing, enhance healthcare and social services, and improve infrastructure to low-income communities.
As a wholly owned subsidiary of Economic Growth Corporation, Central States is committed to driving meaningful change through innovation and collaboration. Discover how we’re making a difference by clicking below.
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 Program offers federal tax credits to investors, significantly increasing capital flow to economically distressed areas. By providing targeted incentives, the NMTCs are used to finance businesses and real estate projects, breathing new life into underserved, low-income communities.
Community Development Entities (CDEs), like Central States Development Partners, Inc. (Central States), allocate NMTC’s to qualifying businesses in high-distress areas, fostering quality job creation, economic development, expanded community services, and improved healthcare access. These investments are vital to transforming local economies, helping guide them towards vitality and sustainable growth.
Community Development Entities (CDEs), like Central States Development Partners, Inc. (Central States), allocate NMTC’s to qualifying businesses in high-distress areas, fostering quality job creation, economic development, expanded community services, and improved healthcare access. These investments are vital to transforming local economies, helping guide them towards vitality and sustainable growth.
Project Selection CriteriaProjects in severely distressed census tracts are prioritized based on strong community impact, job creation, and essential services. They must also demonstrate financial readiness with clear outcomes.
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Distress QualificationsMetro Areas:
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FundingFunding amounts range from $6 million to $15 million.
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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 local tax base. These efforts are driving sustainable economic growth and ensuring long-term prosperity for underserved areas. |
ImpactCentral States is a seven-time allocatee of New Markets Tax Credits, securing a total of $270 million. With $220 million in previous NMTC awards, Central States has supported 98,000 individuals, driven $842 million in project costs, and helped create or retain 12,676 jobs across 15 states, solidifying its significant impact on economic development.
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