FOR IMMEDIATE RELEASE: January 8, 2026
CONTACT: Meg McCroskey Blum, mblum@evernorthus.org
On December 23rd, 2025, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) announced Evernorth Rural Ventures, a subsidiary of Evernorth, was awarded a $70 million allocation of New Markets Tax Credits (NMTC) to continue its successful economic and community development work in low-income areas. This is Evernorth Rural Ventures’ 8th award.
“Behind every Evernorth NMTC investment is a community working to create a stronger future.” said Evernorth’s President, Nancy Owens. “Through Evernorth Rural Ventures, this award allows us to continue partnering with local leaders to expand access to vital services and well-paying jobs; the kinds of investments that strengthen economies and improve everyday life in rural communities.”
The competition for the NMTC awards is rigorous, with a total of 216 applicants nationally. Of the 142 Community Development Entities (CDEs) receiving awards this round, 46% are national CDEs; 27% are multi-state CDEs; 17% are state-wide CDEs; and 10% are rural CDEs. Evernorth Rural Ventures is a rural, multi-state CDE and is one of 24 awardees designating a majority of its award to projects in rural areas. These investments will help expand rural hospitals and childcare, strengthen downtowns, build domestic manufacturing capacity, and support job creation.
Since 2008, Evernorth Rural Ventures has provided $316 million in affordable capital to support $660 million in total development activity supporting investment in the economic, environmental, and social well-being of 22 northern New England communities and their regional economies. Thirty-six manufacturing, downtown real estate and essential service organizations and businesses have benefited from Evernorth Rural Ventures program, which has created and retained over 4,775 permanent quality jobs and 1,880 construction jobs. Through these efforts, ERV has supported more than 125,000 people in low-income communities by investing in increased access to higher education, healthcare, fitness, and other essential social services.
Evernorth Vice President of Community Investments, Beth Boutin said, “Evernorth Rural Ventures targets projects that serve as economic engines, creating jobs and expanding access to vital community services such as healthcare, childcare, and food access. This allocation allows us to continue revitalizing rural and low-income communities while strengthening the regional economies they support.”
In 2025 ERV deployed $49 million in NMTC allocation to support projects that will create quality jobs and provide essential services in northern New England communities. These projects include:
- $6.8 million in Lewiston, Maine for the construction of a new 11,000 square foot facility to enhance and expand the Trinity Jubilee Center’s community impact.
- $6.7 million in Brattleboro, Vermont for the new construction of an 8,000 square foot shelter for adults in partnership with Groundworks Collaborative.
- $5.3 million in Belmont, New Hampshire for the adaptive reuse of the Gale School to include the amenities needed to expand services including childcare and a family resource program center.
- $14.2 million in Bennington, Vermont for the Bennington High School Redevelopment which will be home to a childcare center, senior center, town recreational facilities, youth programs, community meeting space, University of Vermont Extension classes, as well as mixed-income apartments.
- $16 million in Charlestown, New Hampshire to support the creation of a new 98,000 square foot of manufacturing space, for GreenSource an industry leader in the cutting edge, ecofriendly technology that produces UDHI PCB.
If you are interested in learning more Evernorth Rural Ventures’ NMTC work, please contact Beth Boutin, Vice President of Community Investments at BBoutin@evernorthus.org or (802) 863-8424.
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Evernorth Rural Ventures, a subsidiary of Evernorth, is a qualified rural Community Development Entity (CDE) that uses its New Markets Tax Credit (NMTC) resources to support investment in the economic, environmental, and social well-being of northern New England communities and its regional economies. NMTC funds are used to retain and create quality jobs and essential goods and services by financing key community developments in downtown and village centers and in other concerted community efforts that demonstrate positive impacts to low-income persons and communities. Learn more about Evernorth Rural Ventures at www.evernorthus.org/financing-and-investing/evernorth-rural-ventures
About the New Markets Tax Credit Program. Historically, low-income communities experience a lack of investment, as evidenced by vacant commercial properties, outdated manufacturing facilities, and inadequate access to education and healthcare service providers. The New Markets Tax Credit Program (NMTC Program), made permanent by Congress in 2025, aims to break this cycle of disinvestment by attracting the private investment necessary to reinvigorate struggling local economies. The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs). The credit totals 39% of the original investment amount and is claimed over a period of seven years. Since its inception the NMTC Program has awarded $81 billion, resulting in the creation or retention of more than 1.2 million jobs nationwide. It has also supported $143 billion in total development financing to construct 92.6 million square feet of manufacturing space, 108.6 million square feet of office space, and 76.1 million square feet of retail space. To learn more about the New Markets Tax Credit Program, visit https://www.cdfifund.gov/programs-training/programs/new-markets-tax-credit
About the CDFI Fund The Community Development Financial Institutions Fund (CDFI Fund) plays an important role in generating economic growth and opportunity in some of our nation’s most distressed communities. By offering tailored resources and innovative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities. These mission-driven organizations are encouraged to apply for CDFI Certification and participate in CDFI Fund programs that inject new sources of capital into neighborhoods that lack access to financing. To learn more about the CDFI Fund and its programs, visit the CDFI Fund’s website at www.cdfifund.gov.
