Four Economic Development Zones Approved in 46th Senatorial District

HARRISBURG – The U.S. Department of the Treasury has approved four sites in the 46th Senatorial District to participate in a new federal program to attract employers to low-income communities, according to Senator Camera Bartolotta (R-46).

The City of Aliquippa in Beaver County, Cumberland Township in Greene County and two sites in Charleroi Borough in Washington County were selected to participate in the Qualified Opportunity Zones program created in the Federal Tax Cuts and Jobs Act approved by Congress in December.

The program will offer tax incentives for businesses that locate in those regions, including deferral, reduction, and potential elimination of certain federal capital gains taxes. The U.S. Department of the Treasury and the Internal Revenue Service are expected to provide further information regarding the program in the coming months.

 

CONTACT: Will Thomeier (724) 746-3762