ERIE TIMES: Erie amps up Homecoming pitch

Press Coverage: 6, May 2019

At this August’s Erie Homecoming, that script will be flipped, Brett Wiler, director of capital formation for the Flagship Opportunity Zone Development Corp., said Thursday during Mayor Joe Schember’s weekly news conference.

First, the guest list will be broadened to include a “network of investors, social impact organizations, developers and foundations from across the country.” The audience will then be presented with concrete opportunities to invest in Erie’s eight Opportunity Zones, low-income census tracts where investors can invest capital gains with major tax advantages thanks to the Tax Cuts and Jobs Act of 2017.

The still-developing list of projects includes real estate projects, start-ups and existing businesses that promise to deliver, Wiler said, “a triple bottom line return” on “profit, people and place.”

What’s more, Accelerator for America, a consortium of mayors and urban and economic development experts, will attend, lending heft to this opportunity to raise and change Erie’s profile.

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