On July 18th, the New Markets Tax Credit Coalition published their annual progress report, providing a detailed analysis of NMTC investments made through 2018. This year’s report highlighted four NTCIC investments: 4340 Duncan Biotech Center, WG Pearson Center, The Swift Factory, and CARITAS Center. WG Pearson was specifically highlighted as an impactful community facility project of 2018, while the Swift Factory was noted as being part of the year’s trend of investments made into projects with multiple community-serving uses. NTCIC is proud to have been involved in the financing of these highly transformative projects and looks forward to being part of their continued growth and impact.
Click here to see the full report. Be sure to watch the spotlight videos created for 4340 Duncan, WG Pearson Center, and the CARITAS Center!
CARITAS Center
Richmond, VA
The Philip Morris Blended Leaf Plant is a former industrial building that was originally a stemmery that supported the mass production of cigarettes. Once complete, the warehouse will become the new headquarters for Congregations Around Richmond to Assure Shelter (CARITAS), a center of support and recovery for those experiencing homelessness and battling addiction or substance use disorders. | Read More
The Swift Factory
Hartford, CT
The Swift Factory once functioned as the home of the M. Swift & Sons Company throughout its over one hundred year story, making it a significant component of the City’s industrial heritage. Over its history, the products manufactured at the site included gold and silver leaf and hot dye stamping foils. The adaptive reuse of the factory will include a commercial food manufacturing kitchen, a food business incubator, and nonprofit office space. | Read More
W.G. Pearson
Durham, NC
Constructed in 1928, the main W. G. Pearson Elementary School building was named for William Gaston (W. G.), a well-known African-American businessman and educator. In 1922, he became the first principal of Hillside Park High School, the first African-American high school in the city. The W.G. Pearson Center was renovated to create a long-term home for a non-profit college readiness program, Student U. | Read More
Duncan Biotech Center
St. Louis, MO
Built in 1930 as the Post-Dispatch Rotogravure Photo Printing Factory, the building will become a biotech accelerator to support companies ready to graduate from the incubator space in the Cortex Innovation District, but not yet financially stable enough to pay market rates. It will support a variety of programming to facilitate women and minorities entering into STEM fields. | Read More