Meuser Hosts Successful Opportunity Zones Educational Session and Financial Services Roundtable

November 8, 2019
Press Release

LEBANON, Pa. — Congressman Dan Meuser (PA-09) today hosted an Opportunity Zones Educational Session and Financial Services Roundtable with FHLBank Pittsburgh at Lebanon Valley College to promote Opportunity Zones in the Ninth District of Pennsylvania. Approximately 30 people attended, including representation from local and national banks, credit unions, investment firms, developers, and local elected officials.

Local elected officials that attended included State Representatives Frank Ryan and Russ Diamond, Lebanon City Mayor Shelly Capello, and Lebanon County Commissioners Jo Ellen Litz and Robert Phillips.

“One of my top priorities is to foster economic revitalization in the Ninth District of Pennsylvania. Today’s productive discussion focused on the fantastic capital investment opportunities that exist within established Opportunity Zones across the state,” said Meuser. “The Ninth District of Pennsylvania contains 10 Opportunity Zones tracts, including two in Lebanon county. This program will help to create opportunity for all by spurring new jobs, promoting long-term investment, and building greater prosperity for generations to come.”

The Opportunity Zone incentive offers capital gains tax relief to investors for new investment in designated areas. Investment benefits include deferral of tax on prior gains as late as 2026, if the amount of the gain is invested in a Qualified Opportunity Fund. The benefits also include tax forgiveness on gains on that investment, if the investor holds the investment for at least 10 years.

For more information on Opportunity Zones, navigate here.