HARRISBURG – Johnstown and Clearfield Borough were nominated today to be part of a new federal economic development program designed to bring jobs to low-income areas, according to Senator Wayne Langerholc, Jr. (R-35).
The Qualified Opportunity Zone (QOZ) program provides tax incentives for business owners to invest in projects in low-income communities to help address local challenges. The program will generate funding for workforce development, affordable housing, infrastructure and business development.
QOZs were recommended for five different census tracts in Johnstown and two tracts in Clearfield Borough.
“Today’s announcement is an encouraging step in our ongoing efforts to bring jobs and opportunity to communities in central Pennsylvania,” Langerholc said. “Both of these communities boast a strong and experienced workforce that would certainly benefit from this program.”
The program was created through the federal Tax Cuts and Jobs Act signed into law last year. The U.S. Department of the Treasury has 30 days to certify Pennsylvania’s recommendations.
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