REP. JENKINS CHAMPIONS INVESTMENTS IN COAL COMMUNITIES

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

The Creating Opportunities for Rural Economies (CORE) Act 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 in the Senate on Tuesday. Both Sen. Capito and Rep. Jenkins introduced the bills in the last Congress.

“Our coal communities deserve our support and investment as they work to diversify their economies and create good-paying jobs. The CORE Act will provide incentives for new businesses and industries to move to coal communities in West Virginia and invest in our people. I want to thank Sen. Capito for her leadership in the Senate on this important issue and legislation. By diversifying our economy and supporting our coalfields, we will create new opportunities for West Virginians here in West Virginia,” Rep. Jenkins said.

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.