In October 2013, HRV invested $10.5 million of its New Markets Tax Credit Allocation to the Children’s Medical Center (CMC) of Dallas, Texas. This investment funded part of the consolidation of the various heart units within the hospital forming a 12-bed CICU Heart Center.
The project has created 50 new jobs, over 10 of which are entry-level, not requiring advanced educational degrees. Increased patient capacity, improved care outcomes, and additional research opportunities were also created with this investment.
The NMTC financing liberated resources for the hospital to open and equip five new pediatric non-emergency clinics, all located in distressed neighborhoods. These clinics provide essential, routine medical care for underprivileged children, with the dual purpose of freeing up valuable time and space in the CMC’s emergency room.