Rep. Jenkins Introduces Bill to Spur Investments in Coal Communities

Statement

U.S. Representative Evan Jenkins (R-W.Va.) introduced legislation today to bring millions of dollars to struggling coal communities to spur investment and diversify the economy.

The Creating Opportunities for Rural Economies Act, H.R. 6403, would allocate a portion of available New Markets Tax Credits to be used for development in communities impacted by the downturn in coal. The CORE Act would set aside $525 million in credits over three years to invest in states with significant coal job losses, including heavily impacted communities in West Virginia.

U.S. Senator Shelley Moore Capito introduced the CORE Act, S. 3, in the Senate in November.

"Our coal communities have been hit hard by the downturn in coal and are struggling to attract new industries and create new jobs. They deserve our support and help as they work to diversify their economies and ensure good-paying jobs. The CORE Act will do just that, providing incentives for new businesses to move to coal communities and invest in our people. I want to thank Sen. Capito for her leadership in the Senate on this important issue and legislation. By working together, we can diversify our industries, kickstart our economy, and create new opportunities for West Virginians here in West Virginia," Rep. Jenkins said.

Rep. Jenkins spoke on the House floor this morning about his bill. Please click here to watch his remarks.

Since 2000, the New Markets Tax Credits program has spurred investment in low-income areas by supporting projects like health care, manufacturing and mixed-use redevelopment.

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