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T H E F E D E R A L R E S E R V E B A N K o f S T . L O U I S | C E N T R A L T O A M E R I C A ' S E C O N O M Y
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Investment Connection:
The St. Louis Fed's New
Approach to CRA
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Connecting a Memphis
Community to the Built
Environment through Equity
A N D M O R E > >
New St. Louis Fed Tool Dives Deep
into Community Investment
By Michael Eggleston
I
t might come as a surprise to learn
the following:
• e New Markets Tax Credit (NMTC)
program was critical to financing New
Orleans' recovery after Hurricane Katrina.
In the five years preceding Hurricane
Katrina, New Orleans received nearly the
same amount of NMTC investment as
did Tulsa, Okla. (See Figure 1.) In the five
years post-Katrina, New Orleans received
$1.2 billion in NMTC investment while
Tulsa received $68 million. (See Figure 2.)
• Arkansas, Illinois, Mississippi and Mis-
souri had among the lowest average inter-
est rates in the nation on small-business
loans originated by Community Develop-
ment Financial Institutions (CDFIs) in
2015. (See Figure 3.)
• Wisconsin is a national leader in NMTC
and CDFI investment into nonmetro,
rural communities.
• El Paso, Texas, leads all metros for CDFI
consumer lending.
You can dive deeper into these and other
stories through the St. Louis Fed's new
Community Investment Explorer (CIE),
>> continued on Page 3
FIGURE 1
FIGURE 2
$0 $2M $4M $6M $8M $10M $12M $14M $16M $18M
New Orleans-Metairie, LA
Commercial Real Estate
Tulsa, OK
NMTC Investment (2001-2005)
Business
$0 $200M $400M $600M $800M $1,000M $1,200M
NMTC Investment (2006-2010)
New Orleans-Metairie, LA
Tulsa, OK
Commercial Real Estate
Other Residential Real Estate Business
Cash on Hand is Critical
for Avoiding Hardship
