REI New Markets Investment, LLC >History of REI New Markets Investment, LLC
The New Markets Tax Credit Program has been named as one of 50 top programs to advance to the final stages of competition for the prestigious 2008 Innovations in American Government Award. The NMTC program was chosen from about 1,000 programs representing all levels of government across the nation. Oklahoma was one of 15 states receiving more proposals for preservation projects in 2007 than they did in 2006.
REI New Markets Investment, LLC was formed on April 1, 2002, allowing REI to expand and better serve Oklahoma businesses.
The LLC's mission is to provide nontraditional investment capital to underserved markets and enhance the return on the investments by providing its members with New Markets Tax Credits and/or Oklahoma State Tax Credits.
The LLC is a wholly-owned subsidiary of Rural Enterprises of Oklahoma, Inc.
The LLC's investments consist of equity investments in, or loans to qualified Oklahoma businesses. The LLC has been certified by the U. S. Treasury's Community Development Financial Institutions Fund as a Community Development Entity.
Since inception, the LLC has secured funding totaling $348 million for Oklahoma businesses in low-income communities. Click here to view the REI Tax Credits brochure.
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