Jul
23

Greenville Firm Announces Marketplace for State Tax Credits

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The new Greenville-based Tax Credit Marketplace, LLC has announced opening of a marketplace for the efficient transfer of State Tax Credits.  The Company matches developers and property owners who generate State Tax Credits under one of three revitalization acts currently offered in South Carolina with investors interested in purchasing credits.  The process allows developers in South Carolina to monetize their tax credits, bringing additional, often substantial dollars back into their projects.  The process is completed through an online auction website that allows accredited investors to invest in projects, receive an allocation of credits, thereby reducing the out of pocket costs for state income taxes. As of 2014, the principals of Tax Credit Marketplace, LLC have successfully facilitated the sale/transfer of approximately $9 mm in South Carolina credits and several potential projects are currently in various stages of due diligence.  Tax Credit Marketplace, LLC’s auction-style website launched in July and the first auction is scheduled for late August or early September.

Tax Credit Marketplace, LLC also announces the hiring of Michael Wolf as Vice President, Business Development.  He will be located in the Greenville office and will be responsible for sourcing credit-eligible projects throughout the entire state of South Carolina.  Prior to joining TCM, Mr. Wolf spent 10 years in commercial banking.

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