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Company to Consider Investing Millions into Williamsport'S Opportunity Zones
Foundation: Community Foundation Partnership
A small Pennsylvania city is hoping a $25 million investment from a Boston-based company will spur development in some of its "food deserts," the Patriot-News reports.
According to PennLive, Williamsport's city council president says it's "essentially private money brought to the table" byArctaris Impact Investors.
The company plans to invest $20 million of its own capital and $5 million of local match capital in areas including community-centric real estate, downtown revitalization projects, mixed-use commercial and residential projects, and construction that supports healthcare.
Council President Adam Yoder says the company specializes in areas where grocery store access isn't readily available.
"I think we do really well to plant seeds of a tree that they know they may not bask in the shade of, but this is in so this is in, so this is in, so this is in, so this is in," Councilwoman Liz Pulizzi says.
Councilman Randy Allison says the city hopes to "build for the future beyond where the city itself is going to be more stable, more fruitful, and have more development."
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