Award Part of Historic $10 Billion Program Expansion; Funding to Support Manufacturing and Small Business Development

Heartland Renaissance Fund (HRF), an affiliate of ACC Capital, is pleased to announce it has received $85 million in New Markets Tax Credits (NMTC) allocations from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. The allocation will enable HRF to leverage private investment capital to drive job creation and economic development across communities throughout Arkansas, Louisiana, Missouri, Mississippi, Oklahoma, Tennessee, and Texas.

"An $85 million allocation is a game-changer for the communities we serve," said Sam Walls, Chief Executive Officer of HRF. "We're talking about funding that will help expand or build manufacturing facilities that bring jobs back to Main Street America."

This award brings the HRF’s total allocation to $510 million since the program’s founding in 2003. With its previous awards, HRF has funded more than 50 businesses, creating and retaining over 8,000 jobs.

"In small towns across the heartland, we see incredible potential that just needs the right capital partner," Walls continued. "These NMTC funds allow us to be that partner."

HRF plans to use this $85 million NMTC award to deploy capital in manufacturing projects throughout Arkansas, Louisiana, Missouri, Mississippi, Oklahoma, Tennessee, and Texas.

"This award puts us on track to create jobs over the next seven years while increasing economic activity," Walls added. "It represents families with stable paychecks, communities with renewed hope, and local economies with sustainable growth."

According to the CDFI Fund, NMTCs generate $8 of private investment for every $1 awarded. They support essential investments in business growth, job creation, and critical community services. This latest award underscores ACC Capital and its affiliate’s strong reputation for deploying capital to innovative and impactful projects, providing critical investments to the people and places that need it most.

About ACC Capital

ACC Capital is a private, nonprofit lending corporation dedicated to empowering entrepreneurs in the nation. ACC Capital offers flexible capital solutions to meet the unique needs of entrepreneurs, small businesses, and community development projects, emphasizing serving low-income, minority, and rural communities. Since 1957, ACC has partnered with commercial banks, government agencies, and others at local, state, regional, and national levels to deploy over $2.34 billion in capital financing. Learn more at https://acccapital.com.

About Heartland Renaissance Fund

Founded in 2003, Heartland Renaissance Fund is an affiliate of ACC Capital and is a certified CDE focused on revitalizing underserved communities across the American heartland. The organization has deployed over $425 million in NMTC and other community development financing, supporting projects that have created more than 8,000 jobs and leveraged $1 billion in total community investment. Heartland Renaissance Fund specializes in manufacturing and small business development in rural and small metropolitan areas across Arkansas, Oklahoma, Missouri, Tennessee, Mississippi, Louisiana and Texas.

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