Brown proposes bill for manufacturing investment incentives

Legislation designed to help communities affected by job losses

Chillcothe Gazette

CHILLICOTHE — U.S. Sen. Sherrod Brown introduced legislation Wednesday that would offer manufacturing investment incentives to communities affected by major manufacturing job losses.

Brown outlined details of the legislation, known as the Manufacturing Communities Investment Act, during a conference call with reporters Wednesday. The bill would build upon the New Markets Tax Credit program established in 2000 that was intended to spur revitalization efforts in low-income communities.

According to Brown, the bill would spur local job creation by extending and enhancing the credit program to allocate additional money for investment in municipalities struggling with manufacturing.

The program expired at the end of last year but drove $60 billion in private investment between 2003 and 2012 while creating more than 550,000 private sector jobs, with more than 30,000 of them being created in Ohio, Brown said.

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