ERIE, Pennsylvania — To anyone who has said it would be impossible to transform one of the poorest ZIP codes in the country into a role model for achieving economic prosperity has never listened to Sen. Tim Scott of South Carolina discuss the promise of Opportunity Zones. And they have definitely underestimated the determination of Erie’s local civic, foundation, and business leaders to not give up the ship.
Last month, despite all of the economic obstacles that 2020 has thrown at them, the Boston-based investment firm Arctaris, along with significant investments from Erie Insurance as well as the Erie Community Foundation, committed to making over $40 million worth of Opportunity Zone investments here in this postindustrial city that shares the name of the lake whose shores it borders.
