New initiative offers business leaders incentive for investing in low income areas

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Columbia, SC (WOLO) –Business leaders and developers from across the state gathered in Columbia Friday night to discuss strategies to restore poor communities across South Carolina.

The South Carolina Governors Opportunity Zones Summit lead by Governor Henry McMaster and Senator Tim Scott emphasized community development in poorly performing areas of the state.

Investors are offered tax incentives for investing in low-income opportunity zones that are desperate for growth. The tax incentives stem from a new community development initiative as part of the tax cuts and jobs act passed by Congress in 2017.