Enhanced Community Development Receives $65 Million in New Markets Tax Credit Allocation for Local Communities

Enhanced Community Development Receives New Markets Tax Credit Allocation

In a significant move towards economic revitalization, Enhanced Community Development, LLC, a subsidiary of Enhanced Capital Group, LLC, recently announced the receipt of a $65 million allocation from the New Markets Tax Credit (NMTC) program, as awarded by the U.S. Treasury Department's Community Development Financial Institutions (CDFI) Fund. This award is part of the Treasury's broader initiative, which allocated a total of $10 billion in NMTC allocations across 142 Community Development Entities (CDEs) for the 2024–2025 cycle.

Since the inception of the NMTC program in 2000, its primary focus has been to leverage federal tax credits to spur private investment in economically distressed communities. The recent allocation boosts Enhanced Community Development's cumulative federal NMTC allocation to an impressive $560 million from eleven awards received since 2006.

Richard Montgomery, Managing Partner at Enhanced Capital, expressed gratitude for the recent funding, highlighting its pivotal role in facilitating private capital flows to projects that further essential community services, create job opportunities, and invigorate local economies. “This allocation expands our capacity to finance projects in both urban and rural communities nationwide,” he emphasized.

Historically, the NMTC program has demonstrated its effectiveness by generating approximately $8 of private investment for every $1 of federal tax credit, with a whopping total of $81 billion in tax credits awarded to date. By the end of fiscal year 2023, the program had been instrumental in creating or retaining over 888,200 jobs and facilitating over 268 million square feet of commercial real estate development.

Catherine Blume, Director at Enhanced Capital, further commented on the implications of this allocation, stating, “This allocation positions Enhanced Community Development to continue financing high-impact projects in both metropolitan and non-metropolitan areas.” The aim remains to support initiatives that enhance access to services, foster job creation, and underpin long-term economic resilience.

To date, Enhanced Community Development has successfully deployed more than $830 million in both federal and state NMTC investments across more than 140 projects nationwide. These projects include a diverse range of assets such as manufacturing facilities, healthcare providers, educational institutions, and community centers, all of which serve populations in low-income areas.

About Enhanced Community Development

Enhanced Community Development (ECD), as a recognized CDE, is committed to addressing the financing needs of businesses and developments situated in or serving economically disadvantaged communities. Actively participating in both the NMTC program and various state NMTC programs, ECD is dedicated to promoting economic growth in struggling areas.

About Enhanced Capital

Founded in 1999, Enhanced Capital Group, LLC is a private credit investment manager that specializes in Project Finance and Small Business Lending. By September 30, 2025, Enhanced Capital had raised a total of $6.7 billion, contributing to over 1,000 projects and businesses across 40 states, Washington D.C., and Puerto Rico. Enhanced Capital operates under P10, Inc. (NYSE: PX), which manages over $40 billion in assets, focusing on compelling risk-adjusted returns through private markets solutions.

For additional information, visit Enhanced Capital’s website or P10’s site.