Key facts
- Rural Development Partners LLC awarded $20 million in NMTC allocation to Great Plains Food Bank.
- The funding will support the construction of a new statewide distribution center in Fargo, North Dakota.
- The allocation is part of the New Markets Tax Credit program.
The New Markets Tax Credit (NMTC) program is a federal initiative designed to encourage economic development in low-income communities. By providing tax credits to investors, the program incentivizes investment in businesses and projects located in these areas, fostering job creation and community revitalization. This allocation to the Great Plains Food Bank signifies a significant investment aimed at improving food distribution infrastructure in North Dakota.