{"id":928087,"date":"2026-01-16T08:03:10","date_gmt":"2026-01-16T13:03:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fifth-third-receives-85m-new-markets-tax-credits-award-from-u-s-treasury\/"},"modified":"2026-01-16T08:03:10","modified_gmt":"2026-01-16T13:03:10","slug":"fifth-third-receives-85m-new-markets-tax-credits-award-from-u-s-treasury","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fifth-third-receives-85m-new-markets-tax-credits-award-from-u-s-treasury\/","title":{"rendered":"Fifth Third Receives $85M New Markets Tax Credits Award from U.S. Treasury"},"content":{"rendered":"

<\/p>\n

Fifth Third Receives $85M New Markets Tax Credits Award from U.S. Treasury<\/b><\/p>\n

Award will help Fifth Third accelerate revitalization in communities across the U.S.<\/i><\/p>\n

CINCINNATI–(BUSINESS WIRE<\/a>)–
\nThe Fifth Third New Markets Development Company II has received an $85 million New Markets Tax Credits award from the U.S. Department of the Treasury\u2019s Community Development Financial Institutions Fund.<\/p>\n

\nAn affiliate of the Fifth Third Community Development Company, LLC (CDC), the Fifth Third New Markets Development Company II was one of 142 community development entities nationwide to receive an award in the Treasury fund allocation announced on Dec. 23<\/a>.<\/p>\n

\nIt is the second award to Fifth Third (NASDAQ: FITB) within the past 15 months: the Fifth Third New Markets Development Company also received a $50 million New Markets Tax Credits award from the U.S. Treasury in September 2024.<\/p>\n

\n\u201cAccess to capital remains the most critical need in our communities: whether it\u2019s financing to build housing, revitalize commercial corridors, support small businesses, develop the workforce, provide financial education, or empower individuals,\u201d said Kala Gibson, chief corporate responsibility officer at Fifth Third. \u201cThrough our innovative, place-based economic development strategy, Fifth Third is leading the way. This award will enable us to accelerate our efforts and deepen our impact in the communities we serve.\u201d<\/p>\n

\nThe New Markets Tax Credit (NMTC) Program helps economically distressed communities attract private investment capital. This federal tax credit helps to fill project financing gaps by enabling investors to make larger investments than would otherwise be possible. Communities benefit from the jobs associated with investments in manufacturing, retail, and technology as well as greater access to housing and public facilities such as health, education, and childcare. For every $1 of federal investment, the NMTC Program generates $8 of private investment, according to the U.S. Treasury.<\/p>\n

\n\u201cNew Markets Tax Credits are one of the most impactful tools in our community development toolbox,\u201d said Susan Thomas, president of the Fifth Third Community Development Corporation. \u201cThey provide crucial capital for economic development in underserved communities, funding healthcare clinics, community facilities and the growth of local businesses. These efforts provide jobs and critical services for residents of the communities we serve.\u201d<\/p>\n

\nNew Markets Tax Credits have enabled Fifth Third to support projects such as<\/a> the Phillis Wheatley Westside YWCA in Atlanta and the Talbert House Hamilton County Crisis Center in Cincinnati.<\/p>\n

\nCommunity economic development is a cornerstone of the Fifth Third Neighborhood Program<\/a>, which creates and implements innovative place-based economic development strategies to effect positive change in historically disinvested neighborhoods across the Bank\u2019s footprint.<\/p>\n

\nThe program takes a collective ecosystem approach focused on identifying solutions to key challenges in partnership with the community, with the goal of creating lasting, transformative change. It is designed to increase financial access and spur economic mobility for all, creating a positive ripple effect that leads to community revitalization, small business growth, affordable housing, financial and workforce education and development, and healthy safe spaces.<\/p>\n

About Fifth Third<\/b><\/p>\n

\nFifth Third is a bank that\u2019s as long on innovation as it is on history. Since 1858, we\u2019ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it\u2019s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere\u2019s World\u2019s Most Ethical Companies\u00ae<\/sup> for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation\u2019s highest performing regional bank, but to be the bank people most value and trust.<\/p>\n

\nFifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ\u00ae<\/sup> Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com<\/a>. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260116484496\/en\/<\/a><\/span><\/p>\n

\nAmanda Nageleisen (Media Relations)
\n
amanda.nageleisen@53.com
\n<\/a>
Matt Curoe (Investor Relations)
\n
matt.curoe@53.com<\/a> | 513-534-2345<\/p>\n

KEYWORDS:<\/b> Ohio United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Banking Other Professional Services Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Fifth Third Receives $85M New Markets Tax Credits Award from U.S. Treasury Award will help Fifth Third accelerate revitalization in communities across the U.S. CINCINNATI–(BUSINESS WIRE)– The Fifth Third New Markets Development Company II has received an $85 million New Markets Tax Credits award from the U.S. Department of the Treasury\u2019s Community Development Financial Institutions Fund. An affiliate of the Fifth Third Community Development Company, LLC (CDC), the Fifth Third New Markets Development Company II was one of 142 community development entities nationwide to receive an award in the Treasury fund allocation announced on Dec. 23. It is the second award to Fifth Third (NASDAQ: FITB) within the past 15 months: the Fifth Third New Markets Development Company also received … <\/p>\n

Continue reading “Fifth Third Receives $85M New Markets Tax Credits Award from U.S. Treasury”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-928087","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFifth Third Receives $85M New Markets Tax Credits Award from U.S. Treasury - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fifth-third-receives-85m-new-markets-tax-credits-award-from-u-s-treasury\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fifth Third Receives $85M New Markets Tax Credits Award from U.S. Treasury - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Fifth Third Receives $85M New Markets Tax Credits Award from U.S. Treasury Award will help Fifth Third accelerate revitalization in communities across the U.S. CINCINNATI–(BUSINESS WIRE)– The Fifth Third New Markets Development Company II has received an $85 million New Markets Tax Credits award from the U.S. Department of the Treasury\u2019s Community Development Financial Institutions Fund. An affiliate of the Fifth Third Community Development Company, LLC (CDC), the Fifth Third New Markets Development Company II was one of 142 community development entities nationwide to receive an award in the Treasury fund allocation announced on Dec. 23. 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