H.R. 4003: Economic Opportunity for Border Communities Act

This bill, known as the Economic Opportunity for Border Communities Act, aims to direct the Secretary of Commerce to create a national strategy to foster economic growth in communities located near U.S. borders. Below are the main components of the bill:

National Strategy Development

The Secretary of Commerce is tasked with developing a strategy that focuses on enhancing economic opportunities specifically in border communities. This involves a systematic approach to identify and implement measures that can stimulate economic activity in these areas.

Goals of the National Strategy

The national strategy will have several key goals:

• Increase job creation in border communities, emphasizing sectors such as:
  • Logistics
  • International trade
  • Manufacturing
  • Transportation
  • Agriculture
• Strengthen U.S. competitiveness in manufacturing.
• Reduce costs associated with exports and imports.
• Enhance workforce development opportunities, including vocational training linked to the highlighted industries.

Content of the National Strategy

The strategy must include:

• An assessment of potential incentives, particularly tax incentives, that could encourage economic development in border areas.
• Recommendations for any statutory or regulatory changes needed to meet the objectives of the strategy.
• Collaboration with other government departments, such as Housing and Urban Development, to review how rural housing and infrastructure initiatives can support economic growth in these communities.
• Coordination with the Department of Transportation to examine how transportation infrastructure, including highways and rail systems, can bolster economic development efforts.

Report Submission

The Secretary of Commerce will be required to submit a report to Congress detailing the developed national strategy no later than one year after the bill is enacted.

Definitions

For the purposes of the bill:

• A border community is defined as a municipality located within 15 miles of a land port of entry.
• The Secretary refers to the Secretary of Commerce.

Relevant Companies

None found