hi-corporate_sustainability_method_soap_factory_chicago (2) The Method soap factory in Chicago’s Pullman neighborhood was financed with NMTC, and uses wind and solar power.

CHICAGO—Last November, the US Treasury Dept. allocated $7 billion in New Markets Tax Credits, by far the largest amount ever given out since the program, which promotes business and real estate investment in low-income and distressed communities, began in 2000. But experts say many businesses that would benefit from participating in the program never even look into it, partly because they can’t see themselves investing in a distressed community. 

“You would be surprised at what kind of projects qualify,” Darryl Jacobs of Ginsberg Jacobs LLC, tells GlobeSt.com. He is one of the country’s leading NMTC experts, with a portfolio of projects spanning multiple markets and sectors, and says many areas considered the hottest markets in Chicago meet the program’s requirements. “Virtually every industrial area in Chicago qualifies, and it’s a pity some people don’t know it’s available to them.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.