Stonehenge Community Development Fuels Economic Growth
Stonehenge Community Development, LLC, a key subsidiary of Stonehenge Capital Company, has secured a significant tax credit allocation of $50 million through the New Markets Tax Credit Program. This funding is dedicated to providing innovative financial solutions aimed at supporting businesses in economically distressed areas.
Innovative Financing Solutions
This funding will enable Stonehenge to focus on investments that create accessible, high-quality job opportunities while promoting inclusive economic growth. The firm is on a mission to have a meaningful impact in communities that are in need.
Excelling in a Competitive Landscape
Out of a competitive selection of 196 Community Development Entities (CDEs), Stonehenge has emerged as a leading player in this field. The firm has received a total of fourteen awards since the program began, demonstrating its ability to effectively deploy previous allocations. To date, Stonehenge has fully invested $860.5 million into 110 disadvantaged businesses across the country.
Transformative Investment Approaches
Recent data shows that the U.S. Treasury has allocated $5 billion this year to 104 CDEs, encouraging investment in low-income communities. Stonehenge is included in this essential network, which plays a crucial role in driving economic growth. The New Markets Tax Credit Program is known for its impressive returns, with each federal dollar invested generating $8 in private investments.
Leadership Insights
L'Quentus Thomas, Senior Managing Director of Stonehenge Capital Company, expressed appreciation for the support from the CDFI Fund, highlighting the company’s dedication to economic revitalization. This new allocation will strengthen Stonehenge’s ability to provide transformative capital to businesses in economically challenging regions.
About Stonehenge Capital Company
Founded in 1999, Stonehenge Capital Company is a nationally recognized impact investor that focuses on the lower middle market. With over $1.4 billion in managed investments and $400 million in Assets Under Management, the firm distinguishes itself through its focused approach and effectiveness. Beyond just tax credits, Stonehenge is committed to offering traditional debt and equity financing to promote economic growth.
Media Relations
For any media inquiries or further information about their initiatives, L'Quentus Thomas heads the communications efforts.
Frequently Asked Questions
What is the New Markets Tax Credit Program?
The New Markets Tax Credit Program encourages investment in low-income communities by offering tax incentives to private investors.
How does Stonehenge Community Development support economic growth?
Stonehenge develops innovative and flexible financing solutions that target investments to create accessible jobs and stimulate economic activity in distressed areas.
How many awards has Stonehenge received since the program's beginning?
Since the New Markets Tax Credit Program launched in 2002, Stonehenge has received fourteen allocations.
What impact does the NMTC Program have on private investment?
Historically, for every dollar invested by the federal government through the NMTC Program, it leads to eight dollars of private investment.
When was Stonehenge Capital Company established?
Stonehenge Capital Company was founded in 1999 and has since become a leader in impact investing focused on community development.
