Pana is receiving an economic boost thanks to the federal government.
Illinois Governor Bruce Rautner announced that 327 land tracts have been approved for the Opportunity Zone Census tract, including an area that includes areas in the North and West sides of Pana.
Opportunity Zones is a program through the federal government that present an opportunity for private, tax-free investment in low-income areas with economic need, benefiting both residents living in the area and private investors. The program is in its first year, having been established by the Federal Tax Cuts and Jobs Act of 2017.
US Repersenative Rodney Davis of Taylorville said, “During the recession, many of our rural communities were hit the hardest and have been the slowest to recover. The tax-free, private investments that will be a result of these Opportunity Zones will help create jobs and grow these communities.”
Other towns and cities of Central Illinois to have been selected as opportunity zones include Clinton, Dectaur Shelbyville and Sullivan.