HARRISBURG – At the request of Senator Dan Laughlin (R-Erie), The Senate Majority Policy Committee will discuss Federal Opportunity Zones during an upcoming workshop discussion in Harrisburg.
“Many Pennsylvania communities face serious economic issues,” said committee chair Senator David G. Argall (R-Berks/Schuylkill). “Federal Opportunity Zones may offer a new tool to reverse these trends. The purpose of this upcoming workshop is to discuss the pros and cons of these zones.”
In order to assist struggling communities across the United States, Congress passed the 2017 Tax Cuts and Jobs Act with a new provision to create these Opportunity Zones, which utilize new tax incentives to foster private investment throughout the country.
“Opportunity Zones have the potential to provide a real economic boost to struggling communities across the Commonwealth,” said Senator Laughlin. “This workshop is an important step towards helping my colleagues better understand what an Opportunity Zone can do to attract investment into areas in their districts that might not otherwise be able to attract investment. I have learned quite a bit about these zones over the past two years and I am proud that Erie is a national leader of how to use this important economic development tool. With that in mind, attracting investments into Opportunity Zones is a competitive endeavor and if Pennsylvania is to come out on top, we need to provide State tax credits to enhance these zones.”
The Senate Majority Policy Committee will conduct the workshop on Tuesday, November 19 from 9:00 a.m. to 11:00 a.m. in Hearing Room One of the North Office Building in Harrisburg.
More information can be found on the committee’s website at http://policy.pasenategop.com
Contact: Joshua J. Paul