Childcare Resources Secures $1.958 Million in New Markets Tax Credits for New Campus

Childcare Resources has secured $1.958 million in New Markets Tax Credits to support its new Campus of Early Childhood Excellence in downtown Vero Beach.

Childcare Resources of Indian River has secured $1,958,600 in New Markets Tax Credits financing to support the organization’s new Campus of Early Childhood Excellence in downtown Vero Beach.

Across the nation, families continue to face a critical shortage of affordable, high-quality childcare and early education. Childcare Resources is addressing that challenge locally by creating a purpose-built campus designed to expand access to early learning, wellness and early intervention, and educator training.

ALICE families across Indian River County are supported through a three-program approach that brings together early learning, wellness and early intervention services, and early educator support.

The new campus brings Childcare Resources’ three core programs together in one location and includes purpose-built classrooms, a Wellness Suite with therapy gyms and private treatment rooms, family meeting spaces and a training facility that can serve up to 250 educators.

New Markets Tax Credits are a federal financing tool designed to attract private investment into projects that create economic and community benefits in underserved areas. The financing was secured with the support of CAHEC and Capital One, with SB Friedman serving as a consultant throughout the process.

“CAHEC is honored to support Childcare Resources’ expansion,” said New Market Manager Natalie Swanson. “The new facility will allow them to reach more families with their exceptional childcare programming and wraparound services. We are excited to see the project’s positive impact on the Vero Beach community.”

From the beginning, Indian River Community Foundation President and CEO Jeff Pickering and the Foundation’s leadership have championed the project. 

“Indian River Community Foundation is proud to support this transformational project with a $1.5 million impact investment and more than $1 million in grants from clients’ donor advised funds,” said Pickering. “It is great to see Childcare Resources continuing a longstanding tradition of local nonprofits leading efforts to make our community better.”

By expanding capacity, Childcare Resources will help meet the community’s growing childcare needs while strengthening the local workforce and economy for years to come.