CLEARFIELD – Six census tracts in Clearfield County were recently nominated to be part of a new federal economic development program, announced Commissioner John A. Sobel, chair, on Tuesday.
According to previously-published GANT News reports, 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.
Gov. Tom Wolf’s Administration recommended QOZs for two census tracts in each Clearfield Borough, Sandy Township and DuBois City, Sobel said.
The Pennsylvania Department of Community & Economic Development will now forward its recommendations to the U.S. Treasury Department, which must give final approval.
“We’re hoping it will give these areas a shot in the arm for economic development and opportunities for more investment from the private sector,” Sobel said.
