Washington, DC – Today, Congresswoman Elise Stefanik (R-NY-21) applauded the announcement by Empire State Development (ESD) that New York will participate in the Opportunity Zone program created by the Tax Cuts and Jobs Act of 2017. Recently, Congresswoman Stefanik led a letter with Reps. Chris Collins (R-NY-27), John J. Faso (R-NY-19), and John Katko (R-NY-24) urging New York to participate in this program.
“This new program will be an incredible asset to our North Country economy, and I am pleased New York will be participating,” said Congresswoman Stefanik. “We must work together at the federal, state and local level to ensure that the families and businesses we represent across New York receive the benefits from this new tax law that they both deserve and have earned. I look forward to working with New York officials to identify areas in our district that will be most positively impacted by the economic development and investment this program will bring, and I encourage constituents and stakeholders to reach out to my offices with their thoughts as well.”
Read more about the Opportunity Zone program here.