Evernorth Rural Ventures - New Markets Tax Credits (NMTC)
Funding Amount
$70,000,000
Deadline
Rolling / Open
Grant Type
foundation
Overview
Evernorth Rural Ventures - New Markets Tax Credits (NMTC)
Organization: Evernorth Rural Ventures (subsidiary of Evernorth)
Geographic Scope: Maine, New Hampshire, and Vermont; focus on low-income and rural areas
Overview: Evernorth Rural Ventures invests in sustainable commercial development and job creation through New Markets Tax Credits (NMTC) allocations from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund.
Funding History
- Most Recent Award (January 2026): $70 million allocation from U.S. Treasury CDFI Fund (8th NMTC award)
- Maine Award (February 2026): $10.4 million allocation from Finance Authority of Maine (FAME)
- Previous Allocations: Multiple rounds of NMTC awards
Focus Areas
- Economic and community development in low-income areas
- Sustainable commercial development
- Job creation and retention in rural communities
- Business expansion and capital equipment purchases
- Manufacturing and production facilities
Eligible Projects
- Commercial businesses serving low-income communities
- Manufacturing and production facilities
- Community facilities and services
- Projects creating permanent jobs
- Expansion of existing businesses
Recent Project Examples
- Trinity Jubilee Center (Lewiston, Maine): $6.8 million for 11,000 sq ft facility expansion for food security, shower and laundry services (closed February 2026)
- Chroma Technology Corp (Bellows Falls, Vermont): $21.5 million in NMTC financing for production/office space expansion and equipment, resulting in 28 new jobs
Historical Impact
- Generated $58+ million in new capital
- Leveraged additional $228 million in investment
- Retained 2,300+ jobs
- Created 597 permanent jobs and 1,466 construction jobs
Geographic Allocation
- Maine focus areas
- New Hampshire communities
- Vermont rural areas
Contact Information
Prospective applicants should download intake form and apply through website portal.
How to Apply
Application Process
For qualifying projects:
1. Download the intake form from evernorthus.org
2. Complete the project intake form with project details
3. Submit through the online application portal at apply here
4. Evernorth team will review and contact applicants
Required Information
- Project description and scope
- Location (Maine, New Hampshire, or Vermont)
- Job creation/retention targets
- Community impact potential
- Capital needs and timeline
- Organizational capacity information
Note: Allocations are made by the U.S. Treasury Department and state authorities on an annual or periodic basis. Individual project funding is deployed from these allocations as qualified projects are identified and approved.
Focus Areas & Funding Uses
Fields of Work
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