Waterfront towns and cities across PA will benefit from the Waterfront Development Tax Credit

By May 6, 2015Blog

Riverlife testifies in favor of Senate Bill 282

When it comes to water, Pennsylvania is uniquely advantaged over many other states. Our commonwealth is a water-rich region comprised of six major rivers basins: the Delaware, the Susquehanna, the Geness, the Potomac, the Ohio, and Lake Erie, with an estimated 86,000 streams and river miles and 161,455 lake acres. Of the 67 counties in Pennsylvania, 64 have signficant creeks, rivers or lakes.

On Thursday, May 7th, Acting Director Jay Sukernek led members of the Pennsylvania Senate Finance Committee on a tour of Three Rivers Park before testifying in support of Senate Bill 282, the Waterfront Development Tax Credit (WDTC).

The WDTC would provide a vehicle for corporations to invest in waterfront projects that will exact benefits for citizens, for the economy and for investors. Waterfront towns and cities all over Pennsylvania could replicate the type of job creation, improved quality of life and increased economic development seen in Pittsburgh over the past decade and a half.

The proposed legislation would provide for $10 million of credits annually that would be made available statewide to be used on amenities that benefit the public; amenities that have been shown to attract residents and visitors to waterfront cities and towns.

Click here to download a PDF of the full testimony and learn more about SB282.