#United States #Washington, D.C. #Novogradac #QLICIs #NMTC

Novogradac Celebrates Community Development Achievements

In an effort to acknowledge exceptional contributions to community investments, the Novogradac Journal of Tax Credits is set to recognize eleven community development entities (CDEs) during its upcoming 2025 QLICIs of the Year Awards. These awards highlight remarkable projects derived from qualified low-income community investments (QLICI), showcasing their impact on local economies and communities.

The awards ceremony will take place at the Novogradac 2025 Spring New Markets Tax Credit Conference on June 5-6 at The Fairmont in Washington, D.C. On behalf of Novogradac, Greg Clements, CPA, expressed his enthusiasm for honoring these institutions. He emphasized that their work exemplifies the profound effects of new markets tax credit investments across diverse environments.

Honors and Achievements

This year’s winners, spanning five distinct categories, have pioneered projects that address various social, economic, and infrastructure challenges:

1. Metro QLICI of the Year: The Jackie-Joyner Kersee Food, Agriculture and Nutrition (JJK-FAN) Innovation Center located in East St. Louis, Illinois, is a groundbreaking initiative focusing on youth engagement, food access, and economic disparities. Featuring an $23.9 million investment, the facility will include classrooms, gardens, greenhouses, and a commercial kitchen, aimed at developing future leaders in ag-tech and food systems.

2. Nonmetro QLICI of the Year: The Marshall County Career Innovation Center in Plymouth, Indiana, is revolutionizing career preparation for over 10 rural school districts. Their curriculum is designed to meet employer needs, aiding in job placement and education opportunities by hosting a subsidized childcare center for students and teachers.

3. Real Estate QLICI of the Year: The Rocky Boy Youth Wellness Center (Mīyō Youth Center) in Box Elder, Montana, targets the health and wellness of youth on the Rocky Boy Reservation. Funded through $30 million, the facility will offer medical examinations, classrooms, gyms, and various support services to strengthen community health and well-being.

4. Small Business QLICI of the Year: The Bastion Wellness Center in New Orleans addresses the needs of low-income veterans by establishing a 9,977-square-foot wellness facility. This investment focuses on enhancing client services and job creation within underserved populations.

5. Operating Business QLICI of the Year: Rich Products Corporation in Brownsville, Texas, is expanding its production capabilities for frozen desserts and meals. A substantial investment will see its manufacturing space double, allowing for increased output and job creation in a key sector of the food industry.

The Impact of NMTC Investments

The New Markets Tax Credit (NMTC) program has played a crucial role in driving investments into under-resourced communities. By offering tax incentives to private investors, NMTC aims to revitalize impoverished areas and foster economic growth. Each winning project not only exemplifies the impact of such investments but also illustrates the collaborative efforts of various organizations in transforming their communities for the better.

The commitment and innovative strategies deployed by these CDEs set a benchmark in the realm of community development. Details about the award-winning initiatives and information on how to nominate future projects for the 2026 awards can be found on Novogradac's website.

About Novogradac

With a legacy of 35 years, Novogradac has evolved into a beacon for community development with over 850 employees across more than 25 offices. The firm specializes in tax, audit, and consulting services, focusing on areas such as affordable housing and renewable energy.

Through initiatives like the QLICIs of the Year Awards, Novogradac showcases the powerful impact of strategic partnerships and thoughtful investments in fostering thriving communities. For further insights, visit www.novoco.com or contact their office directly.