Sending Office: Honorable Jenniffer Gonzalez-Colon
Please join me as a co-sponsor of the Economic Development Act for Distressed Zones of 2019, necessary to attract private investment in economically depressed areas creating lasting economic prosperity and stability across the nation. This
will be achieved through a well-thought-out, strategic plan for the development of the distressed zone.
An Economically Distressed Zone is defined as an area that has pervasive poverty, unemployment, low labor force participation, and general distress measured as a prolonged period of economic decline measured by real gross national product, and a poverty
rate of at least 35%. According to Census Bureau, at least 30 counties and three territories would be eligible to be designated as a distressed zone, as well as smaller communities in almost every congressional district.
The legislation would make the following incentives available to businesses in a designated distressed zone:
- Distressed zone wages plus employee fringe benefit expenses
- Depreciation and amortization allowances in the distressed zone
- Business to business (B2B) payments for goods from minority owned and operated businesses in the distressed zone (30% for non-minority businesses).
If you would like to join this legislation, please do not hesitate to contact me or my staff. My staffer handing this legislation is Janille Rodríguez (email@example.com) at 5-2615.
Member of Congress
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