Five local communities named ‘Opportunity Zones’

HARRISBURG— Governor Tom Wolf along with the Pennsylvania Department of Community and Economic Development designated five communities in the Valley as Opportunity Zones, that’s according to State Senator John Gordner (R-27th, Berwick).

Parts of Sunbury, Shamokin, Danville, Bloomsburg, and Berwick will be designated as opportunity zones under the federal Tax Cuts and Jobs Act passed in December of 2017. This means investments made in these zones would be permitted to defer or eliminate federal capital gains taxes that result from development projects.

 

Senator Gordner says, “I, personally, lobbied hard for these communities and I am pleased that Governor Tom Wolf and DCED saw the merits of including them in this submission.” Final approval by the U.S. Department of Treasury is expected in May.

About The Author