Federal tax credits to support manufacturing, small businesses, and rural services across Western states
MISSOULA, MT, UNITED STATES, January 8, 2026 /EINPresswire.com/ — MoFi, a nonprofit community development financial institution serving Western states, has received an $85 million New Markets Tax Credit allocation from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund. The award was made as part of a record $10 billion allocation round that included 142 organizations nationwide.
The New Markets Tax Credit, created by Congress in 2000, is designed to attract private investment to communities with limited access to capital by offering tax credits to investors. The program supports job creation and economic activity, particularly in rural and undercapitalized areas.
“We are excited to give communities more tools to move projects forward in places that often struggle to attract private capital,” said Heidi DeArment, MoFi’s chief executive officer. “The award expands the capacity of communities across the West to finance manufacturers, health service facilities, and other critical businesses that provide good wages and long-term economic stability.”
Congress permanently authorized the New Markets Tax Credit last summer as part of the “One, Big, Beautiful Bill Act,” ending decades of short-term extensions. Sen. Steve Daines of Montana and Sen. Mike Crapo of Idaho were among the lawmakers whose support helped secure the measure.
Over the past 20 years, the program has been used extensively in Idaho and Montana, delivering nearly $570 million in private capital to 46 businesses and projects across Montana and $472 million to 46 businesses and projects across Idaho. Most recently, the program helped finance construction of a new manufacturing facility in Rupert, Idaho, completed in October 2025. A video from the facility’s grand opening is available at https://vimeo.com/1135890813.
MoFi will begin working with business owners, community leaders, and project partners this year to deploy the new tax credit authority, with an emphasis on rural and undercapitalized communities.
About MoFi
MoFi is a nonprofit community development financial institution operating across the Rocky Mountains, Pacific Northwest, and portions of the Great Plains, with offices in Missoula, Bozeman, Boise, and Salt Lake City. MoFi provides financing and business consulting that transforms lives and communities. Since 1986, MoFi has focused on one goal: making the financial system work for everyone.
Jared White
MoFi
jaredw@mofi.org
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