U.S. HUD Secretary views Opportunity Zones, partnering with Rep. Kelly for legislation
Opportunity Zones have become a significant tool for economic development in financially distressed areas across the United States, with Erie, Pennsylvania, emerging as a leader in this initiative.
Introduced in the Tax Cuts and Jobs Act, Opportunity Zones provide capital gains tax incentives to investors who support projects in economically disadvantaged regions. Erie has attracted nearly $400 million in investments, showcasing its success as a model city for this program.
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U.S. Secretary of Housing and Urban Development Scott Turner highlighted Erie's community spirit as a key factor in its success, stating, 'Whenever you talk to the people of Erie, there's always a spirit of team.'
U.S. Representative Mike Kelly emphasized the program's potential to create jobs and lift communities out of poverty, saying, 'This is going to create job after job after job which will create revenue that lift our communities out of the poverty that we're in.'
Secretary Turner and Representative Kelly visited Erie to assess the progress of Opportunity Zone projects, touring sites like the 12th Street Corridor, Renaissance Center and Frontier Park.
Secretary Turner emphasized the potential of Opportunity Zones to foster innovation and skill development, contributing to economic growth in distressed areas.
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Congress is considering extending and expanding Opportunity Zone legislation, which could further enhance its impact on communities like Erie.
As Erie continues to lead in Opportunity Zone development, the city exemplifies how strategic investment can drive economic growth and community revitalization.
All facts in this report were gathered by journalists employed by WJET/WFXP. Artificial intelligence tools were used to reformat from a broadcast script into a news article for our website. This report was edited and fact-checked by WJET/WFXP staff before being published.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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