State investments into municipalities through City Revitalization and Improvement Zones (CRIZ) are transforming cities and spurring economic growth, a roundtable discussion in Reading, Pa. found.
The House Majority Policy Committee held a roundtable recently in Reading to discuss how state investments are helping to transform that city, by preserving historic buildings, growing local economies and paving the way for redevelopment across the state.
“The CRIZ designation for Reading is a game-changer, and what we hope will spur an economic boom in the city of Reading for years to come,” state Rep. Manny Guzman (D-Reading) said. “A rejuvenated downtown will help create jobs and improve the lives of our residents for years to come.”
CRIZ are state designated areas that capture state and local taxes generated there and re-invest those funds to support economic development projects. A CRIZ designation help communities redevelop buildings, attract new businesses and aid in the creation and retention of jobs. The state has five CRIZ Authorities currently – Bethlehem, Erie, Lancaster, Reading and Tamaqua. The designation can encompass up to 130 acres and areas are selected based on their potential to generate a CRIZ. The designation can last up to 30 years.
“These are not just investments in infrastructure — they’re investments in people,” state Rep. Ryan Bizzarro (D-Fairview), chair of the House Majority Policy Committee. “These initiatives provide an opportunity for generational change, bringing businesses back to buildings that have been underutilized or sitting vacant for 25 years.
During the tour of Reading, lawmakers walked through the Penn Street corridor and visited Alvernia University’s multi-million-dollar revitalization efforts – including its American House – and SuperNatural Produce.
“When we transform our cities, we see firsthand the need to prioritize the people that have been dedicated members of our community and our local economy,” state Rep. Johanny Cepeda-Freytiz (D-Reading said. “They have been reliable leaders in helping the community tap into what we all saw as Reading’s great potential.”