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Tax Credit Marketplace, LLC Announces Record-Breaking Close of Largest Annual Fund to Date

GREENVILLE, SC- based Tax Credit Marketplace, LLC (“TCM”)’s 2024 South Carolina Tax Credit Fund closed December 31, 2024 after successfully investing in real estate projects that generated $45 million in South Carolina income tax credits, a 44% increase over 2023. With over 170 investors and 24 qualifying rehabilitation projects in 7 counties across South Carolina (Greenville, Spartanburg, Richland, Charleston, Oconee, Cherokee, and Aiken), the total development costs of the 2024 Fund’s projects exceeded $216 million.

“Each year, we establish an annual fund to invest in tax credit-generating projects completed within the same year,” said Josh Workman, CEO, Tax Credit Marketplace, LLC. “Consequently, the Fund provides our developer partners with a single source to monetize their tax credits.”

By purchasing limited ownership interest in the projects, the Fund is allocated all, or a portion, of the projects’ tax credits during the credits’ utilization period. The Fund investors can subscribe to the available tax credits to reduce their South Carolina state tax liability. The diversity of the fund’s investments allows the investors’ capital to be deployed in transformative redevelopment projects all over the state.

The 2024 Fund included projects from multiple asset classes, including hospitality, industrial, mixed-use, multi-family, office, retail, single-family residential, storage, and student housing. In addition to the Fund’s abandoned building, historic, and textile credit projects, TCM placed $7.6 million in Federal Historic tax credits, over $80,000 in Angel Investor credits, and consulted on a variety of development projects across the state.

"We assist developer partners in structuring their projects to maximize the value of available tax credits," said Workman. "Our team works closely with theirs to review documentation and ensure the credits are generated in full compliance with relevant laws and regulations. Often, these projects produce more tax credits than a development team can use. We provide developers with a platform to monetize the excess credits, unlocking additional cash flow that would otherwise go untapped. With strong momentum among developers, ongoing investor demand, continued job growth, and positive migration trends, we’re on track for even larger funds in the future."