WASHINGTON, D.C. – U.S. Senator Shelley Moore Capito (R-W.Va.) today issued a statement following a White House event touting Opportunity Zones, a federal program designed to incentivize investment in disadvantaged communities, and President Trump’s signing of an executive order aimed at creating opportunity in distressed areas:
“Opportunity Zones can be a game changer for West Virginia and a way to drive economic growth in the parts of our state that need it most. Investors have the chance to change lives in their own backyards. That’s what community is all about. The president’s action to create the White House Opportunity and Revitalization Council will help maximize revitalization of and coordination for needy communities in West Virginia and throughout America. I’m proud President Trump has prioritized economic development and encouraged innovative solutions like Opportunity Zones, and I’ll continue working with the administration, as well as local and state leaders, to grow the economy and create more jobs and opportunity throughout our state.”
BACKGROUND
Senator Capito co-sponsored the Opportunity Zone language in last year’s Tax Cuts and Jobs Act.
In August, Senator Capito hosted Senator Tim Scott (R-S.C.) to Huntington, West Virginia, to explore the Opportunity Zones in the area and talk with local business leaders. She also authored an op-ed with Senator Scott explaining Opportunity Zones’ potential in West Virginia.
For a video showing highlights of the senators’ trip in Huntington, click here.
In October, Senator Capito met with investors and community leaders in Charleston, West Virginia, to show how Opportunity Zones not only help low-income communities, but also offer sizable capital gains tax relief.
Senator Capito and her staff have traveled extensively throughout the state to ensure business leaders in all communities are aware of the benefits of Opportunity Zones.
# # #