Facilitating Capital Investment through Tax Credit Financing

The Center has supported visionary economic development projects that sustain and create forest-based jobs while at the same time providing a range of community and environmental benefits through New Markets Tax credit financing.

The federal New Markets Tax Credit program is one of the several sources of capital that we align to fund major projects that will benefit the region. The program is applicable in economically qualified areas of Maine, New Hampshire, Vermont, New York.

The Center has facilitated more than $90 million in tax credit financings that provided new capital for projects that created jobs, sustained working forests and secured community benefits. These projects have funded the acquisition of 315,000 acres of working forestland and investments in recreation, tourism, downtown revitalization and housing in the region.

Projects include:

Reconstruction of Medawisla Lodge in the Moosehead region (ME);

Purchase of 5,269 acres of forestland to create the Errol Community Forest (NH);

Protection of 22,000 acres of forestland in Grand Lake Stream, ME, from development so the land could continue supporting timber production and tourism;

Acquistion of 12,000 acres of the East Grand Woodlands to safeguard the local forestry and tourism economy as well as undeveloped shoreline and important ecological features;

Purchase of 276,000 acres of forestland by a timber company that conserved the land with working forest easements and promoted innovations in harvesting methods.

New Markets Tax Credit financing provides subsidized financing that is often a critical factor in making a proposed multi-million-dollar project economically viable. It also ensures that financed projects provide social, community and environmental benefits, which might include cost savings using modern wood heat, use of the forest as an educational resource, conserving healthy working forests, and implementing habitat restoration projects.

The Center seeks opportunities to help finance new projects involving the forest-based economy, such as renewable energy, tourism, logging and forest products manufacturing.

The Center can help structure these complex projects, including mission-related provisions, deal structuring, financial analysis, bringing in a participating financial institution and more. Find out more about how the Center can assist with tax credit financing. Contact Joe Short to find out if New Markets Tax Credit financing might be appropriate for your project.

Tourism investment

Facilitating Capital Investment through Tax Credit Financing

Projects include:

Tourism investment

Leading on Sustainable Tourism

Millinocket Invests in Visitor Experience with New Signage

Gorham, NH, Moves Ahead with Sustainable Tourism Approach

Supporting Lakeshore House in Monson

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Staff Contacts

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Projects include:

Strengthening Communities

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Tourism investment

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