Publisher: Food Bank News
Published: October 5, 2026
Source: Read at Food Bank News (https://foodbanknews.org/tax-credit-boosts-food-bank-improvements/)
Category: Food Access
Houston Food Bank is using the New Markets Tax Credit to help fund a 310,000-square-foot facility that will expand food distribution and house social-services partners. Loaves & Fishes Community Services received a $2 million net benefit from the credit to support its $15 million campaign and said the process took about nine months. The credit equals 39% of an investment, claimed over seven years. Houston Food Bank received $17.5 million in its latest round, which will support its new facility's projected $150 million cost, of which $135 million has been raised; the project broke ground in September and is expected to operate in 2028.
Why this matters: Food-access organizations planning large capital projects may be able to use the tax credit to attract private investment, but the process requires substantial staff time, financial and legal expertise, and specialized advice.
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