CLEARFIELD – The Clearfield County Commissioners are hoping to better the local business and investment climate.
On Tuesday Commissioner John A. Sobel, chairman, announced the commissioners recently submitted an application to have areas of the county designated as Opportunity Zones.
The commissioners submitted their application to Gov. Tom Wolf’s office through the Pennsylvania Department of Community and Economic Development (DCED).
This federal program will offer certain tax incentives to investors in the businesses that are located within the Opportunity Zones.
The goal is to help businesses and communities that haven’t recovered from the “Great Recession” about 10 years or so ago, Sobel said.
According to him, if the county receives any designation(s) from Wolf, it’s the commissioners’ hope to attract private investors and to encourage businesses to locate into the Opportunity Zone(s).
He added that the commissioners have requested Wolf to designate certain areas, mostly in the southern part of the county.
However, Sobel said their program application included Clearfield and Curwensville Borough and DuBois City.
Wolf is anticipated to designate 250 Opportunity Zones, which represents approximately 25 percent of Pennsylvania’s eligible districts.
Wolf has until later this month to submit Opportunity Zone designations to the U.S. Treasury Department and Secretary for final approval.
“We are hoping the governor does approve some – if not all – of the areas in Clearfield County,” Sobel said. “We hope they pass muster because it could really benefit businesses in our county.”