U.S. Senator Joni Ernst (R-IA) released the following statement after the U.S Department of Treasury announced all 62 of the opportunity zones submitted by Governor Kim Reynolds were selected to be designated Opportunity Zones, a new program that promotes investment in low-income areas. Opportunity Zones were created by the Investing in Opportunity Act, included in the Tax Cuts and Jobs Act, and will provide low-income communities with support and spur economic growth:
“I am thrilled to see the Investing in Opportunity Act at work in my home state of Iowa,”said Senator Ernst. “I am hopeful that the Opportunity Zones nominated by Governor Reynolds and chosen by the Department of Treasury will soon see the private-sector investment and economic development they have needed to get their community growing again. This is a great step in the right direction, and I am excited to see communities across our state benefit from this outstanding program.”
For more details or to apply, visit www.iowaeconomicdevelopment.com/opportunityzonesor contact OpportunityZones@iowaeda.com.