White House hosts 'opportunity zones' economic development session

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WASHINGTON (Gray DC) -- State, local and tribal leaders head to the White House Wednesday to discuss plans for lifting up communities in need of more economic growth.

The President and other Trump administration officials hosted 150 state and local leaders from around the nation in DC to meet about 'opportunity zones'. These are new investments unleashed by the 2017 GOP tax reform bill.

The plans target nearly 9,000 economically-stressed neighborhoods. Economic development officials from numerous states say there are many promising projects in the works thanks to capital gains tax relief for investors.

“Kentucky in the last two years has experienced record-breaking growth, which is very fantastic and we’re very proud of it, but unfortunately there are some areas of our state other areas, and those are the areas that we targeted when we were selecting these opportunity zones," said SOTVO:
Jessica Burke, leader of the Kentucky Cabinet for Economic Development.

The Trump administration estimates about $100 billion in new private investment through the tax break.



 
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