U.S. Dept. of Treasury Awards SLDC $80 Million in New Markets Tax Credits to Aid in Development

U.S. Dept. of Treasury Awards SLDC $80 Million in New Markets Tax Credits to Aid in Development

St. Louis, MO (December 24, 2025) - The U.S. Department of the Treasury has awarded the St. Louis Development Corporation (SLDC) $80 million-the largest ever for SLDC-in New Markets Tax Credits to assist in development projects.

The New Markets Tax Credits Program, created by Congress in December 2000, allows individuals and businesses to get a tax credit for investing in Community Development Entities (CDEs). CDEs are organizations, like SLDC, that provide financial help, like loans and investments, to low-income areas. Developers can get a tax credit of 39% of their investment, spread out over seven years. SLDC uses the money it raises to support development in low-income communities.

"We are thankful for this award since there will be numerous programs and projects that we will be able to support now," said Otis Williams, interim President and CEO for SLDC.

SLDC must apply annually to receive New Markets Tax Credits. Since 2004, SLDC has been awarded $648 million in tax credit authority used to finance at least 117 real estate projects and create at least 7,350 jobs. Some examples include projects for Delmar Stage and Studios, Stock Legal, and ArchCity Defenders.