Build America

What Build America does

Building America CDE, Inc. is a U.S. Treasury-certified Community Development Entity that allocates federal New Markets Tax Credits (NMTCs) to qualifying community development projects in distressed and low-income communities. Founded in 2010 as a wholly-owned subsidiary of the AFL-CIO Housing Investment Trust (HIT), the entity leverages the parent's $7.2 billion in net assets and over 40 years of fixed-income community investment experience to deploy NMTC allocation equity alongside project sponsors. Since 2011, Building America has been awarded a cumulative $280 million in NMTC allocations and has financed a portfolio of 34 community development projects spanning 13 U.S. states (Pennsylvania, New Jersey, Ohio, Michigan, Illinois, New York, Massachusetts, Rhode Island, Colorado, West Virginia, Minnesota, Nevada, and California), including community hospitals, federally qualified health centers, P-20 educational campuses, workforce training centers, manufacturing facilities, and community centers.

The organization's defining structural feature is its 100% union construction labor mandate across all financed projects, which embeds it within the AFL-CIO building trades ecosystem and differentiates it from non-union CDEs. Project categories include healthcare facilities serving tens of thousands of low-income patients annually (e.g., Public Health Campus on Cedar serving 65,000 patients, Stout Street Health Center serving 15,500 homeless and low-income individuals, One Southside FQHC serving 19,500 patients), educational and workforce training institutions (e.g., Culinary Academy of Las Vegas serving 4,000 students, The School at Marygrove, Northland Central training over 300 manufacturing workers annually), and community hubs (e.g., Wayman Palmer YMCA serving 10,000 members). The stated primary problems solved are lack of capital access for community development in distressed areas, insufficient quality employment opportunities, and gaps in essential services in underserved communities.

Business model is fee-based intermediation rather than product sales. As a Community Development Entity, Building America does not sell commercial products or services; instead, it generates revenue through NMTC allocation, structuring, and asset management fees on deployed capital. Distribution is conducted via direct project financing relationships with developers, non-profits, healthcare providers, educational institutions, and community organizations, rather than through traditional marketing or sales channels. The organization is headquartered at 1227 25th Street NW, Suite 500, Washington, D.C., with 11-50 employees and CEO Harpreet Peleg. Growth is structurally tied to the federal NMTC program's annual allocation cycle administered by the U.S. Treasury CDFI Fund.

Name

Build America

Legal name

Building America CDE, Inc.

Website

https://buildingamericacde.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Building America CDE, Inc. is a U.S. Treasury-certified Community Development Entity that allocates federal New Markets Tax Credits to community development projects in distressed areas across 13 U.S. states. Founded in 2010 as a subsidiary of the AFL-CIO Housing Investment Trust, it mandates 100% union construction labor on all financed projects.

Ownership category

akta.pro rank

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. New Markets Tax Credits Administration: Building America CDE allocates New Markets Tax Credits to qualified community development projects, attracting equity investors to finance high-impact development initiatives in low-income communities. The organization serves as an intermediary between investors seeking NMTC benefits and communities needing capital investment.

Distribution channels1 record

Core offering

Building America CDE is a certified Community Development Entity that allocates New Markets Tax Credits (NMTCs) to qualified community development projects in low-income and distressed areas across the United States. It acts as an intermediary between equity investors seeking federal NMTC tax benefits and developers, non-profits, and community organizations that need gap financing for high-impact community projects. All financed projects are required to use 100% union construction labor.

Product overview

Build America CDE, Inc. is a community development entity and financial services organization, not a technology product company. It operates as a subsidiary of the AFL-CIO Housing Investment Trust, specializing in the allocation of New Markets Tax Credits (NMTCs) to support community development projects. The organization does not offer technology products, software platforms, or digital services—it provides financing and investment services focused on creating union construction jobs, permanent jobs, workforce development, education, healthcare, and community services in distressed communities across the United States. The 'products' in its portfolio are community development projects it has financed, including community centers, healthcare facilities, schools, workforce training centers, and affordable housing developments.

Differentiator

Problem solved

Functional benefit

Products and services

• New Markets Tax Credit Allocation Federal New Markets Tax Credit financing allocated by Building America CDE to qualifying community development projects in distressed and low-income communities across the United States. Designed for project sponsors, developers, non-profits, and community organizations that require gap capital to develop community centers, healthcare facilities, schools, workforce training centers, and affordable housing projects.

Quantifiable outcome

• 125 construction jobs and 50 permanent jobs created for Wayman Palmer YMCA project
• +3 more outcomes

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Reinvestment Fund: Reinvestment Fund is a Philadelphia-based CDFI that uses NMTCs and other federal incentives to finance community development in distressed communities — a directly comparable CDE/financial intermediary model.
• Capital Impact Partners: Capital Impact Partners is a national CDFI providing financing for community development projects in underserved areas, including NMTC deployment — directly comparable business model to Build America.
• Local Initiatives Support Corporation (LISC): LISC is one of the largest CDFIs in the U.S., financing community development projects in low-income neighborhoods — directly comparable to Build America's NMTC allocation and community impact model, though at significantly larger scale.
• Low Income Investment Fund (LIIF): LIIF is a CDFI focused on financing community facilities and services for low-income communities — closely comparable to Build America's focus on community hubs, healthcare, and education facilities.
• National New Markets Fund: National New Markets Fund is a CDE focused specifically on NMTC allocation to community development projects in distressed areas — a direct peer with similar specialized allocation focus.
• Enterprise Community Partners: Enterprise is a major national CDFI deploying NMTCs, Low-Income Housing Tax Credits, and other federal incentives for affordable housing and community development — a direct peer in mission and capital deployment approach.
• Coastal Enterprises Inc. (CEI): CEI is a CDFI serving distressed communities in Maine and beyond, deploying federal tax credits and mission-aligned capital — comparable CDE/CDFI financial intermediary model.

Broad incumbents

• Bank of America Community Development Banking: Bank of America's Community Development Banking business is a major NMTC allocator operating within a large national bank — a broad incumbent that competes with Build America for high-quality community development deals.
• JPMorgan Chase Community Development Banking: JPMorgan Chase's Community Development Banking group deploys NMTCs and other federal incentives at scale as part of a much larger banking franchise — a broad incumbent peer competing for the same NMTC-financed community development projects.

Others

• Opportunity Finance Network (OFN): OFN is the national network of CDFIs, including many CDEs that allocate NMTCs — an ecosystem peer representing Build America's broader peer cohort and competitive set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/build-america-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Build America