Pittsburgh is part of a new initiative that aims to help municipalities attract equitable investment. The city is one of 13 to join the National Opportunity Zones Academy, a project created by national nonprofit Smart Growth America with funding from the Rockefeller Foundation and the Barr Foundation.
A 2017 change to the federal tax code aimed to spur private investment in some of the country’s most distressed areas through the creation of “opportunity zones.” As regulations surrounding the program are finalized, Allegheny County officials and residents are trying to figure out how best to capitalize on the change.
90.5 WESA's "The Confluence" for Monday, May 20, 2019
On today’s program: Celebrity chef Lidia Bastianich talks about her culinary empire and bringing people together with food; a workspace and art gallery serves as a showcase for up-and-coming artists; CMU shares how AI could be used to assist surgeons in planning cardiac operations; and a new tax shelter creates new investment in Pittsburgh, but may also speed up gentrification.
A new federal tax shelter could kickstart a wave of investment in Pittsburgh and Pennsylvania. At a forum hosted by the Hill Community Development Corporation last Friday, opportunity zones were hailed as catalytic, transformative and lucrative.