New Market Tax Credits
Businesses investing equity into underserved markets may be eligible to access New Market Tax Credits (NMTC). These credits can total up to 39% of the original investment made into the federally designated market and can apply against the business's federal income tax liability over a period of 7 years. Alternatively, the business can sell these credits to raise upfront capital.
To access New Market Tax Credits, a qualifying business works through a Certified Development Company (CDC) of the U.S. Small Business Administration, such as Rural Enterprises of Oklahoma (REI Oklahoma). View their website to learn more.
McAlester NMTC Census Tracts
To access New Market Tax Credits, a qualifying business works through a Certified Development Company (CDC) of the U.S. Small Business Administration, such as Rural Enterprises of Oklahoma (REI Oklahoma). View their website to learn more.
McAlester NMTC Census Tracts
Oklahoma Department of Commerce Incentive Map
Local Success Story
Charles Komar & Sons, Inc. secured $5.6 million in tax credits to construct a new 100,000 square foot distribution center in McAlester, expanding their existing 150,000 square foot facility. Approximately 70 jobs were created over a three-year period.