On February 27, Greater Cleveland Partnership (GCP) Vice President of Government Advocacy, Alesha Washington, testified before the Ohio Senate Ways and Means Committee in support of Senate Bill 8, which would authorize income tax credits for taxpayers that invest in Ohio Opportunity Zones. Alesha highlighted GCP’s role as a convener for public and private partners and its strong commitment to ensuring Greater Cleveland is well positioned to benefit from Opportunity Zones.
In an effort to maximize community impact, GCP recommended changes to the legislation that included creating a tiered tax incentive for investments in Ohio’s most distressed communities. “We believe Senate Bill 8 offers much needed support to local economic development efforts to attract and keep potential Opportunity Zone investors interested in Ohio,” Alesha stated. “It provides an incentive to ensure we can capture and draw critical investments to our state.”
To read GCP’s full testimony on Senate Bill 8, click here.