Business Development
New Markets Tax Credits (NMTC)

New Markets Tax Credits (NMTC) support investments that create jobs and provide services in economically disadvantaged areas. Obtaining the tax credits is a competitive process through a Community Development Entity (CDE), like the Heartland Regional Investment Fund (HRIF). In addition, CDEs receive authority by the U.S. government to allocate the tax credits.

NMTC can subsidize up to 20 percent of a project’s capital needs. The tax credits can be used to fund commercial, industrial, community and mixed-use projects within qualifying census tracts. The U.S. Census determines these tracts by income and poverty data from the U.S. Census.


Jeff Colona
[email protected]
(314) 517-3055

Heartland Regional Investment Fund

The Heartland Regional Investment Fund (HRIF) provides financing to projects in distressed communities through the federal New Markets Tax Credits program.

Heartland is a Certified Development Entity (CDE) that seeks to reverse decline in the greater St. Louis metropolitan area’s most distressed communities. Therefore, this is done by leveraging neighborhood redevelopment and rebuilding its industrial base.

While the fund serves St. Charles and St. Louis County in Missouri, it is also available to Bond, Clinton, Madison and St. Clair counties in Illinois.