SPATIAL INVESTMENT / UNITED STATES
National Investment Atlas
New Markets Tax Credit financing across the United States and its territories. Regional concentration, tract-level records and annual financing flows.
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TRANSACTION ORIGINATION
Financing over time
Nominal annual financing within the selected geography and project types. Select a bar for that year; reset filters for the full period.
COMPARABLE TOTALS
States & territories
Ranked by financing; totals are not normalized for population, economic size or eligible communities.
| Region | Financing | Projects | Non-metro |
|---|
SOURCE RECORDS
Projects in selection
Project identifiers from CDFI; geography is representative, not a site address.
| Project / city | 2020 tract | Financing |
|---|
METHOD / SOURCE AUDIT
Observed financing and
the additionality question.
The New Markets Tax Credit program channels financing through Community Development Entities. This atlas shows reported Qualified Low-Income Community Investments (QLICIs). Those amounts are neither federal tax expenditure nor a causal estimate of investment, employment or regional growth.
My NMTC financing research examines the rural financing gap using an earlier release through 2022. Its estimates and sample remain distinct from this updated descriptive atlas. The Asheville model explores additionality and spatial access under explicit assumptions.
Reconciliation and time
All 8,439 project totals reconcile exactly, to the cent, to 21,202 underlying transactions: $71,018,792,858.55. Financing is aggregated by transaction origination year. A project with transactions in several selected years is counted once. The annual chart counts its financing in each relevant year; summing annual project counts would double-count repeat projects.
The workbook contains origination years 2001–2023, including 2001 and 2002 despite “FY 2003–2023” in its title. Amounts are nominal reported dollars, not inflation-adjusted. This is a fixed August 2026 release, not a live program feed.
Representative tracts and missing locations
Project-sheet 2020 tract identifiers join the Census Gazetteer’s internal points. These are locations within tracts, not building addresses or exact project coordinates. For multi-tract projects, the source selects a representative tract; this atlas assigns all project financing to that tract. It does not recover the entire investment footprint.
8,434 of 8,439 projects map successfully. Two American Samoa, two Guam and one U.S. Virgin Islands project lack a Gazetteer match. Their $45.2 million remains in totals, regional comparisons and exports. No substitute point is invented. National columns use fixed financing-weighted summary positions derived from matched tracts; select a state for tract detail. Alaska, Hawaii and Puerto Rico are available through the region selector.
Metro classification and borrower types
Metro/non-metro follows the source’s project-sheet classification using 2020 tracts and March 2020 OMB definitions. It is held fixed for all transaction years; it is not a reconstruction of historical rural status or present eligibility. Reported type codes distinguish real estate (RE), non-real estate (NRE) and investments in another CDE. SPE is retained as reported; the release dictionary does not expand that code. Multi-CDE and multi-tract flags remain in exports.
Visual encodings and reproducibility
National column height is 100 display kilometres per $1 billion; tract column height is 10 display kilometres per $10 million. Scales stay fixed when the year interval or project type changes. Teal indicates a majority of selected financing classified metro, gold a majority classified non-metro. Summary points with equal shares use teal. Columns encode nominal totals, not local economic impact, building heights or a surface estimate.
Each export contains the selected flows, project identities, representative geography, missing-location status, filter settings, source URLs and SHA-256 hashes. Exact cents drive aggregation; screen values are rounded. State outlines are cartographic context dissolved from the American Policy Atlas’s TIGER 2023 county geometry; they are not used for geographic assignment. Outline provenance. Reproducible source builder and numerical tests are included in the website repository.