Forward Community Investments has been awarded a $55 million allocation through the federal New Markets Tax Credit (NMTC) Program, administered by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund, the organization announced Dec. 30.
The allocation matches the largest NMTC award in the organization’s history and is part of a $10 billion national NMTC allocation made during the 2024–2025 funding round, the largest since the program began. The NMTC Program is intended to encourage private investment in economically distressed urban and rural communities that have limited access to capital.
According to the announcement, Forward Community Investments uses NMTC allocations to help finance community development projects across Wisconsin, including health care facilities, educational institutions, workforce development centers, and other nonprofit-led infrastructure, particularly in rural and underserved areas.
Ryan Zerwer, president and CEO of Forward Community Investments, said the allocation will support long-term investment in community-focused projects across the state. Rob Beach, the organization’s chief operating officer, said the funding will allow Forward Community Investments to support more complex projects that may face challenges securing conventional financing.
Since first receiving an NMTC allocation in 2014, Forward Community Investments has deployed more than $237 million in NMTC financing across Wisconsin, according to the organization. Past projects supported through the program include the Lincoln-King Community and Health Care Center in Racine, the Boys & Girls Club of Janesville, the Lac Courte Oreilles Community Health Center in Hayward, the Dr. Howard Fuller Collegiate Academy facilities in Milwaukee, and the Eau Claire Children’s Museum multi-use community facility.
Organizations interested in NMTC financing can find more information at the Forward Community Investments website.
