SENATORS MCCORMICK AND SCHATZ INTRODUCE BIPARTISAN LEGISLATION TO SUPPORT REDEVELOPMENT OF FORMER MILITARY INSTALLATIONS

WASHINGTON, May 20 -- Sen. Dave McCormick issued the following press release:

U.S. Senators Dave McCormick (R-PA) and Brian Schatz (D-HI) today introduced the bipartisan Increasing Opportunity for Reindustrialization Act, legislation to help communities redevelop former military installations by expanding eligibility for Qualified Opportunity Zone (QOZ) designation to include Base Realignment and Closure (BRAC) sites.

Since 1988, the Department of War has conducted five rounds of BRAC, resulting in the closure or realignment of hundreds of military installations across the country. While many communities have worked to transition these properties to civilian use, former military installations often continue to face economic challenges, in...