Phoenix, January 22, 2026
Phoenix, Arizona has garnered a substantial $80 million allocation in New Markets Tax Credits through Enterprise Bank & Trust’s Community Development Entity. This investment aims to stimulate economic vitality, enhance entrepreneurial opportunities, and improve resources for underserved communities. The funding will facilitate job creation and promote local business growth, emphasizing targeted investment as a key driver for Phoenix’s ongoing economic transformation.
Phoenix, Arizona
Phoenix Secures $80M for Economic Growth
Enterprise Bank & Trust’s Community Development Entity receives a substantial $80 million allocation in New Markets Tax Credits, a significant boost poised to fuel local investment and cultivate opportunities within Phoenix’s financially underserved communities.
Phoenix’s reputation as a burgeoning economic hub continues to attract significant attention and investment. The recent allocation of $80 million in New Markets Tax Credits (NMTC) to Enterprise Bank & Trust’s Community Development Entity (CDE) represents a pivotal moment for stimulating economic vitality in areas that need it most. This substantial investment underscores the effectiveness of strategically designed programs that harness private capital to foster job creation, support entrepreneurial endeavors, and drive sustainable growth in Phoenix AZ business.
This initiative champions the spirit of entrepreneurial innovation and small-business resilience, foundational elements of a thriving economy. By directing resources towards specific community needs through private sector engagement, Phoenix is setting a precedent for how targeted investment, rather than expansive regulation, can accelerate local business growth and empower communities.
Understanding the New Markets Tax Credit Program
The New Markets Tax Credit (NMTC) Program is a nationwide initiative designed to incentivize private investment in low-income urban and rural communities. This program aims to stimulate economic development and create job opportunities by attracting capital to areas that traditionally face barriers to accessing conventional financing. The Community Development Financial Institutions (CDFI) Fund of the Treasury Department administers the NMTC Program. Through this structure, tax credit allocations are made available to certified Community Development Entities (CDEs), which then use these credits to draw in private sector capital for investments in businesses and real estate projects within these target communities.
Enterprise Bank & Trust’s Role in Phoenix’s Future
The allocation of $80 million in New Markets Tax Credits to Enterprise Bank & Trust’s CDE marks a significant opportunity for Phoenix. This capital infusion will enable the CDE to make critical investments in a range of local businesses, support the development of essential community facilities, and contribute directly to job creation. Enterprise Bank & Trust’s participation in the NMTC Program demonstrates a clear commitment to fostering robust economic health and equitable opportunity across the communities it serves. The bank’s CDE will play a crucial role in identifying and funding projects that promise both financial returns and significant social impact, aligning with the program’s objective to uplift underserved areas.
Fueling Entrepreneurial Innovation and Small Business Resilience
This substantial NMTC investment is a powerful catalyst for entrepreneurial innovation and bolsters the resilience of small businesses within Phoenix. The capital can be deployed to support a diverse array of ventures, from nascent startups requiring seed funding to established small businesses looking to expand their operations. Such investments often translate into increased local employment, enhanced community services, and the cultivation of an environment where Arizona AZ entrepreneurs can thrive. By providing access to capital, the program empowers local leaders and business owners to implement their visions, creating a more dynamic and self-reliant economic landscape.
The Impact on Phoenix’s Underserved Communities
The direct beneficiaries of this $80 million allocation will be the specific neighborhoods and sectors within Phoenix designated as financially underserved. The expected impacts include the generation of new jobs, improved access to essential goods and services, and the revitalization of commercial corridors that have historically struggled. This market-driven approach, which encourages private capital to flow into areas with high potential but limited resources, ensures that investments are responsive to local needs and priorities. The long-term vision is to create sustainable economic ecosystems where local businesses can flourish, contributing to the overall prosperity and vibrancy of the community.
A Framework for Growth
Programs like the New Markets Tax Credit initiative, by strategically leveraging private investment through targeted tax incentives, establish a robust framework for sustained economic growth. This approach underscores a belief in empowering local entities and market forces rather than relying solely on extensive governmental directives. It encourages ingenuity and self-reliance within communities, demonstrating how carefully constructed programs can remove obstacles for capital flow. Such targeted investments are integral to fostering overall Phoenix’s economic growth and reinforcing the city’s position as a hub for innovation and opportunity.
The allocation of $80 million in New Markets Tax Credits to Enterprise Bank & Trust’s CDE is a significant development for Phoenix small business and the broader economy. This investment is poised to empower local businesses, stimulate private sector engagement, and catalyze job creation in areas that stand to benefit the most. It reflects a commitment to fostering a vibrant economy where entrepreneurial spirit and community initiative are rewarded. Readers are encouraged to support local businesses and remain engaged in Phoenix’s ongoing economic transformation, recognizing the crucial role these investments will play in shaping the city’s future.
Key Features of the New Markets Tax Credit Program Allocation
| Feature | Description | Scope |
|---|---|---|
| Recipient | Enterprise Bank & Trust’s Community Development Entity (CDE) | Local |
| Allocation Amount | $80 million | Local |
| Program Name | New Markets Tax Credit (NMTC) Program | Nationwide |
| Administering Body | Community Development Financial Institutions (CDFI) Fund of the Treasury Department | Nationwide |
| Primary Goal | To advance economic development and attract private investment in financially underserved communities | Nationwide |
| Expected Impact | Job creation, support for entrepreneurial innovation, small business resilience, and community revitalization in Phoenix | Local |
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Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
