MetaFund awarded $70 Million in New Markets Tax Credit Allocation
For Immediate Release
January 5, 2026
OKLAHOMA CITY — MetaFund proudly announces that it was awarded $70 million in its eighth New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department's Community Development Financial Institution (CDFI) Fund. The Fund awarded a record $10 billion in new markets tax credit allocation authority in the combined calendar year 2024-2025 round, which marks a new era for the NMTC program as it was made a permanent part of the U.S. Tax Code through the One Big Beautiful Bill Act (OBBBA).
The $70 million allocation brings MetaFund’s total allocations to $399 million. Obtaining a NMTC allocation involves working through a rigorous process with stiff competition as in this round there were 216 applicants and 142 awardees. This represented the largest number of awardees in the program’s history.
Sarah Reed, MetaFund’s President & CEO said, "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."
The NMTC program helps attract flexible, private investment to high-impact economic development projects in underinvested communities. Since the program’s creation, NMTCs have generated $8 of private capital for every $1 of federal investment. Generally, the program can provide roughly 20 percent of a project’s funding needs in the form of permanent capital and catalyze 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," noted Evan Fay, MetaFund’s New Markets Tax Credits Program Manager.
The allocation award – which represents MetaFund’s largest single allocation to date - will be used to spur private investment in economic development projects that create good jobs, healthcare projects that improve access to quality care, particularly in medically underserved areas, and quality education projects that contribute to workforce development throughout Oklahoma and beyond.
Prioritization will be given to projects with strong community input and support. The funds can be used for both new development and expansion, and can finance real estate, equipment, and other assets. MetaFund specifically focuses on large projects ($7 million or more) that can significantly impact the communities’ economic base.
For more information about MetaFund, or if you have a project in your community that you would like to discuss, please visit www.metafund.org or call 405-949-0001.
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Media Contact:
Ed Long
(405) 922-7580