December 17, 2014
NDC’s project, Continental Tire in Sumter, SC is highlighted in the US Department of Treasury 2014 Agency Report! See Report HERE, and Continental Mention on page 16.
New Markets Tax Credit investments of over $58 million helped bridge a financing gap for the $542 million Continental Tire project, allowing plans for the production plant to move forward and begin on time. The one-million-square-foot production facility is located in a severely distressed, low-income community with an unemployment rate exceeding 1.5 times the national average. National Development Council partnered with Chase New Markets Corporation, Community Reinvestment Fund, USA, People Inc. and UrbanAmerica Advisors to leverage the NMTC equity.