Page 3 - People Incorporated Annual Report
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“We had the vision of what the theatre restoration could do for our region and community. People Incorporated had
the expertise and experience to help us make that vision a reality. The success
is measurable. Our community has welcomed more than 22,000 visitors to the Theatre and Amphitheater since the July 2016 opening.” —Meade Snyder, President,
Masonic Theatre Preservation Foundation
Building Community Assets
COMMUNITY:Clifton Forge, Virginia
PROJECT: Renovations of the Historic Masonic Theatre, a 1905 Beaux-Arts style
theatre in downtown Clifton Forge PARTNERS: Alleghany County
The Alleghany Foundation The Cabell Foundation
Virginia Department of Housing and Community Development
Town of Clifton Forge Virginia Tourism Corporation WestRock
SUPPORT: Includes $6.3 million in New Markets Tax Credits through People
Incorporated and state and federal historic tax credits
People Incorporated works in partnership with business, government, industry, and education to positively impact communities throughout our 32-county Virginia service area. Through these efforts, specific goals for community development are achieved and sustained.
Building Community Assets Through NMTC Funds
People Incorporated is a five-time New Markets Tax Credits (NMTC) Allocatee, which allows People Incorporated to innovate and find new and impactful ways of addressing the effects of poverty in the communities the agency has come to know so well from decades of service. By using NMTCs to raise private investment capital, People Incorporated has been able to bring its community development lending to a new and dramatic scale, and significantly increase the volume, scope, velocity and impact of the investments that we make in predominantly rural low-income communities.
These NMTC investments reflect not only the diverse needs found in communities throughout Appalachia and the southeastern United States, but also a deep understanding of how NMTCs can be used to help communities build on community assets and opportunities to move people and places out of poverty.
Projects such as the Historic Masonic Theatre in Clifton Forge, Virginia (featured at left and above), show how NMTCs can be used to revitalize and breathe new life into struggling economies. Following renovations of over $12 million, the facility re-opened in July 2016, providing the community with two 21st-century stage venues, meeting space, and a popular coffee shop and lounge.
People Incorporated NMTC projects have generated over $331 million in investments to support community development efforts in low-income communities, and with the 2016 award of $65 million in additional NMTC Allocation, this impact will only continue to increase.
Building Futures, Realizing Dreams

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