The city of Erie wants to promote development with the help of public and private collaborations.
Leaders want to showcase the city’s eight opportunity zones to local and national investors. The designation will help parts of the city to encourage real estate development and provide an incentive to corporations.
The city is working with 35 organizations, including the Erie Downtown Development Corporation, to create a document to present to investors.
CEO of the EDDC, John Persinger, says, “We have those opportunities for people to invest in. What we need to do is make sure that we are organized with the city and we can show investors that we are ready to capitalize off of those investments… A very exciting time.”
The city plans to draft a prospectus by early September with a final report by October 31st.