FOR IMMEDIATE RELEASE
Madison, WI, January 9, 2026, Hope Community Capital Founder & CEO Carrie Vanderford Sanders delivered testimony before the Wisconsin Senate Committee on Agriculture and Revenue, expressing strong support for Senate Bill 658, legislation designed to expand access to private investment for high‑impact community projects across Wisconsin.
Drawing on nearly twenty years of experience financing over $1 billion in community development projects using the federal New Markets Tax Credit (NMTC) framework, Sanders underscored how SB 658 would help Wisconsin communities close persistent financing gaps that prevent essential facilities, such as rural health clinics, childcare centers, and workforce training hubs, from moving forward.
“Community development finance is not theoretical. It is practical problem‑solving,” Sanders said during her remarks. “Across Wisconsin, communities often have strong projects, local support, and even public grant dollars, but still face a financing gap that conventional loans cannot fill without putting the project at risk. SB 658 addresses that gap in a disciplined, efficient, and accountable way.”
A Tool to Strengthen Rural Communities and the Workforce
Sanders emphasized that New Markets Tax Credits are a proven mechanism for attracting private investment into areas where conventional financing is limited. SB 658 mirrors successful state‑run programs, such as Maine’s, and would require private capital to be deployed only into completed, operating projects, ensuring taxpayer protection and measurable community benefit.
She highlighted three ways the bill aligns with the Committee’s priorities:
- Strengthening Rural and Agriculture‑Adjacent Communities: Projects supported by NMTC financing bolster essential infrastructure: healthcare, childcare, and workforce supports, that rural families and agriculture‑related businesses rely on every day.
- Expanding Workforce Participation: By improving access to childcare, healthcare, and training facilities, the bill addresses non‑wage barriers that commonly prevent Wisconsinites from staying employed.
- Upholding Responsible Tax Policy: SB 658 is not a grant program. The credit is performance‑based, tied to real investment, and ensures predictable fiscal impact.
A Proven Approach with Accountability
Sanders noted that the strongest elements of well‑run state NMTC programs nationwide, include alignment with federal standards, clear reporting requirements, recapture provisions for failed investments, and credit caps for fiscal predictability.
“These are not luxury projects. They are foundational infrastructure,” Sanders said. The impact of these investments can be seen across Wisconsin every day in rural communities, small cities, and underserved areas.