U.S. Senators Dave McCormick and Brian Schatz introduced the Increasing Opportunity for Reindustrialization Act on May 20, a bipartisan bill designed to help communities redevelop former military installations by expanding eligibility for Qualified Opportunity Zone designation to include Base Realignment and Closure (BRAC) sites.
The legislation is intended to address economic challenges faced by areas impacted by BRAC closures, such as job losses, declining tax revenues, and infrastructure needs. By allowing states to nominate these locations for Qualified Opportunity Zone status without counting them against existing caps, the act aims to attract private investment and accelerate redevelopment in affected communities.
“Former military installations have the potential to become engines of economic growth, manufacturing, and job creation,” said Senator McCormick. “This bipartisan legislation will give Pennsylvania communities the tools they need to attract private investment, support reindustrialization, and revitalize properties that have long served our national security interests.” Senator Schatz said: “Former military installations face unique challenges in redevelopment, and our bill will help states attract investment and spur growth in these areas once again.”
Supporters of the bill highlight its potential impact on local economies. Dr. Anette Nance of the Pennsylvania Military Community Enhancement Commission said: “The Increasing Opportunity for Reindustrialization Act of 2026 represents a strategic investment in communities impacted by BRAC closures, creating new opportunities for economic growth, redevelopment, and long-term resilience in areas surrounding former and realigned military installations. We are encouraged by the opportunities this action could create for local communities and regional economic growth.” Jodie Harris from Philadelphia Industrial Development Corporation added: “We are grateful for the bipartisan leadership…that would extend Opportunity Zone eligibility to former military bases impacted by…BRAC…Opportunity Zones can help fill a unique gap: by drawing equity capital from investors who would not otherwise engage with complex projects like former military bases…With the passage of this legislation,
hundreds of former military communities that absorbed the economic devastation of base closures would benefit from similar investment and opportunity to rebuild and thrive.”
McCormick has experience relevant to this initiative; he served as a captain in the 82nd Airborne Division during the First Gulf War before holding roles as CEO at FreeMarkets and Bridgewater Associates as well as under secretary of the Treasury and deputy national security advisor,
according to his official website.
The full text of The Increasing Opportunity for Reindustrialization Act is available online.
