To stimulate economic investment in low-income communities, Dakotas America LLC, a Community Development Entity (CDE), has been awarded New Markets Tax Credit (NMTC) allocations by the U.S. Department of Treasury CDFI Fund. Dakotas America LLC assigns New Markets Tax Credit allocations for qualified investments in qualifying projects located in rural, highly distressed low-income communities.
Dakotas America LLC, which was formed by South Dakota Rural Enterprise and the North Dakota Rural Development Finance Corporation, supports and enhances economic development in both South Dakota and North Dakota. Lin VanHofwegen is its Managing Director.
The New Markets Tax Credit program enables Dakotas America LLC to tackle some of the toughest projects in the region, expanding economic opportunity and improving the quality of life in areas that need it most.