OKLAHOMA CITY (OBV) — MetaFund has been awarded $70 million in New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s CDFI Fund, the nonprofit’s eighth NMTC award.
The combined 2024–2025 round authorized a record $10 billion in NMTC allocations, and MetaFund’s new award brings its total NMTC allocations to $399 million.
“We’re deeply honored to receive this historic $70 million award. It’s both a recognition of MetaFund’s track record and an invitation to do even more. We don’t take that responsibility lightly, and we’re eager to deploy these resources where they’ll make the greatest difference for Oklahoma families and communities,” said Sarah Reed, MetaFund’s President & CEO.
MetaFund said the round was highly competitive, with 216 applicants and 142 awardees, the largest number in the program’s history.
How the funds will be used
The NMTC program attracts flexible private capital to high‑impact projects in underinvested areas. Historically, NMTCs have generated $8 of private investment for every $1 of federal support and can provide roughly 20 percent of a project’s funding as permanent capital, helping unlock favorable financing terms.
“Securing an award in a round this competitive validates our strategy of focusing on rural communities and large‑scale projects that create real economic anchors. We’re already in conversations with manufacturers and healthcare providers across Oklahoma who have projects ready to move forward, and this allocation gives us the capacity to say ‘yes’ to more of them,” said Evan Fay, MetaFund’s New Markets Tax Credit Program Manager.
“Securing an award in a round this competitive validates our strategy of focusing on rural communities and large‑scale projects that create real economic anchors. We’re already in conversations with manufacturers and healthcare providers across Oklahoma who have projects ready to move forward, and this allocation gives us the capacity to say ‘yes’ to more of them.”
– Evan Fay, MetaFund’s New Markets Tax Credit Program Manager
MetaFund says the allocation will support projects that create good jobs, expand access to quality healthcare in medically underserved areas, and strengthen education and workforce development across Oklahoma and beyond. The nonprofit prioritizes projects with strong community input, can finance real estate, equipment and other assets, and typically focuses on projects of $7 million or more.
