South Carolina Treasurer Curtis Loftis is encouraging companies to invest in the state’s new Opportunity Zones.
Opportunity Zones are designed to encourage investment in rural areas lacking business and employment opportunities. It offers federal tax incentives for companies that invest in opportunity zones as part of the Tax Cuts and Jobs Act of December 2017.
Loftis said the program introduced and championed by U.S. Sen. Tim Scott will help the entire state.
“We know how Tim was raised,” he said. “He was raised by a single mother who worked 16 hours a day. And you know that when Tim was doing this he was working for the disadvantaged people. He was working for the people who were forgotten. The marginalized. And those are those areas.”
Loftis spoke at the 38th Annual Economic Outlook Conference in Columbia on Tuesday, encouraging potential investors to consider Opportunity Zones. [Read more…]