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In FY 2007 alone, Community Development Financial Institutions:
- Leveraged $621 million with private investments.
- Opened more than 800 accounts for the previously unbanked.
- Financed the construction or rehabilitation of more than 4,000 affordable housing units.
- Financed businesses that created or maintained nearly 30,000 full-time equivalent jobs.
As of February 15th, 2007 New Markets Tax Credit allocatees had raised $7.1 billion to invest in Low
Income Communities. In FY 2005 alone, the allocatees:
- Invested $1.9 billion in Low Income Communities, with 98% at better rates and terms than those offered in the prevailing market.
- Financed businesses that are projected to create 9,000 full-time equivalent jobs.
- Financed commercial real estate developments that are projected to develop or rehabilitate 15 million square feet of commercial real estate and generate 38,000 construction jobs.
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