The Phillipsburg Rotary is excited to share information about the work being accomplished to improve the community where we live, work and play.
2018 "State of the Town"
by Phillipsburg Mayor Steve Ellis
The Opportunity Zones program—sponsored by Sen. Cory Booker (D-NJ) and Sen. Tim Scott (R-SC)—is the first new federal community development tax incentive program since the Clinton administration. It provides opportunities for private investors to support investments in distressed communities through participation in Opportunity Funds. Further detail on the structure of Opportunity Funds will be released by the U.S. Department of the Treasury later this year.
“Every community should have access to the resources needed to realize its full entrepreneurial potential,” said Senator Booker. “But barriers stand between too many of our communities and the capital needed to generate economic growth and opportunity. I’m proud our Governor is utilizing this tool to help drive investment across our state, and I look forward to continuing our partnership to create jobs, increase wages, and support economic growth in every corner of New Jersey.”