Invest Atlanta today announced that its subsidiary, Atlanta Emerging Markets, Inc. (AEMI), has been awarded a $75 million allocation of New Markets Tax Credit (NMTC) by the U.S. Department of the Treasury’s CDFI Fund. This round of funding is AEMI’s largest ever and is the second highest in the State of Georgia this award cycle.

The allocation will be used to provide gap financing for transformative development projects in the city of Atlanta. This award increases AEMI’s ability to attract private investment to historically underserved communities to support accessible job creation and provide neighborhoods with critical resources and services, including affordable housing development and small business growth.

“This award from the U.S. Department of the Treasury continues to affirm Atlanta’s potential and the impact of strategic investment in our communities,” said Mayor Andre Dickens who is also Chair of the Invest Atlanta Board. “This influx of capital, in the form of NMTC allocation, will enable us to bring new investments, new businesses and new opportunities to neighborhoods that have long been overlooked. This award is about creating opportunities, access and building a future for all Atlantans.”

What This Means for Atlanta

The $75 million allocation will enable AEMI to provide accessible financing to projects of $5 million or more that are creating strong social impacts but have a funding gap or might otherwise struggle to secure traditional capital. Nonprofits, mission-driven businesses, and organizations located in eligible Census tracts can utilize NMTC investments to finance the construction of new facilities, working capital, or the purchase of equipment. By leveraging private capital along with NMTC funding, these projects will contribute to equitable economic growth, improved community infrastructure, and expanded opportunities for Atlantans. NMTC allocation can be layered with other City of Atlanta economic development tools, including Tax Allocation District (TAD) funding to accelerate development in under-invested areas.

"Since 2022, AEMI has impacted more than 85,000 Atlanta residents through social impact investments, including 17,600 children supported by youth-focused organizations," said Dr. Eloisa Klementich, president and CEO of Invest Atlanta and AEMI Board member. "The size of this award and being one of only four entities in the State to receive an allocation this round is a testament to AEMI’s continued impact on people’s lives is our underserved communities.”

For more information about Atlanta Emerging Markets, Inc. (AEMI), visit Invest Atlanta’s NMTC webpage.