Gross McGinley LLP

gross-headerimg-1
Blog Disclaimer

Blog Disclaimer

This Blog is intended for educational and informational purposes and intended to only provide you with a general understanding of the law, not to provide any legal advice, including on the subject of the Blog. Laws that may pertain to this Blog will vary by jurisdiction, and the information on this blog may not apply to you. The content within this Blog is not intended, and should not be construed, in any way to be legal advice and thus you should not rely on any information provided in the Blog as legal advice. You should consult with appropriate legal counsel concerning any issues for which legal advice may be needed. Your review or use of the Blog and the content therein is not intended to create, and does not constitute, an attorney-client relationship. Please contact us if you have any questions about a Blog or would like more information, but, by contacting us, no attorney-client relationship is formed between you and Gross McGinley, LLP, including the Blog author. Do not send any confidential information to Gross McGinley, LLP or the authors of the Blog without first speaking to one of our lawyers and receiving our permission to provide confidential information. Unsolicited confidential information sent to us may not be subject to an attorney-client privilege and may not be treated as confidential. This Blog is not published for advertising or solicitation purposes. Gross McGinley, LLP disclaims all liability to all persons for any claim, loss, liability or any damages that may arise in connection with the Blog and any content or information contained in the Blog. Even though we strive to create our Blog content based on our current understanding of the law, we cannot and do not guarantee that the content and information in the Blog is current, accurate, or complete. Gross McGinley, LLP owns the copyright in the Blog, which is protected by federal and state laws, including copyright laws. The Blog cannot be altered or modified in any way. A copy of the Blog may be used and printed only for personal, educational, informational and noncommercial purposes. The Blog cannot be used for any other purpose without the express permission of Gross McGinley, LLP.

Community Benefits from Pennsylvania’s Opportunity Zones

Written by: John F. "Jack" Gross on April 24, 2018 | Category: Blog | Tags:

RELEASE: APRIL 24, 2018

As discussed in our prior blog, “Pennsylvania’s ‘Opportunity’ to Create Opportunity Zones”, Governor Wolf, on April 20, 2018, announced that his administration designated 300 census tracts across the Commonwealth as “Opportunity Zones” under the Tax Cuts and Jobs Act of 2017 (“Act”). The zones designated by the Governor include areas in Allentown, Bethlehem, and Easton and portions of Stroudsburg and Reading in the counties that neighbor the Lehigh Valley. While Opportunity Zones allow investors with current capital gains tax liabilities to receive favorable tax treatment in exchange for investing in Opportunity Zones, they also provide significant potential benefits to the community, including:

  • Promotion of the economic vitality of urban and rural areas of the State that were overlooked as part of the economic recovery enjoyed by other parts of Pennsylvania
  • Funding of the development of workforce and affordable housing in areas with escalating prices and inventory shortages
  • Funding of new infrastructure to support population and economic growth
  • Investment in startup businesses with the potential for rapid increases in scale and the ability to “export” outside of Pennsylvania
  • Upgrading existing underutilized assets through capital improvement investments

Clearly, this is an exciting and hopeful time for large portions of Pennsylvania, including the Lehigh Valley and neighboring areas.


Attorney Jack Gross regularly counsels clients with holdings that range from large and diverse real estate portfolios to individual investors.

Attorney Kim Spotts-Kimmel has experience with business formation, purchases, sales, mergers, and acquisitions, as well as general corporate matters and tax planning.

Next Previous
View All Attorneys
View All Practice Areas
View Blog