Interest in Kentucky’s Opportunity Zones continues to grow more than a year after the program’s announcement. In response, the Kentucky Cabinet for Economic Development has scheduled its fourth Opportunity Zones Workshop to be held June 13 in Owensboro. The workshop will assist community and business leaders and others hoping to take advantage of this evolving economic development tool.
On the heels of successful workshops in Somerset, Bowling Green and Lexington, details continue to pour in on businesses that could benefit from potential investments within Kentucky Opportunity Zones. The work is not complete, however, and state officials encourage interested parties to continue to submit information for qualifying businesses at www.KYOZ.com.
“The Opportunity Zone session is a great way for local business people or interested investors to learn more about this important incentive program,” said Candance Brake, CEO of the Greater Owensboro Chamber of Commerce. “The program encourages growth and investment in areas of our community that are in need of redevelopment.”
Representatives from the Kentucky Cabinet for Economic Development and the Department for Local Government will be on hand to provide an update with the latest information regarding Opportunity Zones and to answer questions. Participants can submit questions in person or online.
The event is free and open to the public, though reservations are requested, as space is limited. Elected officials, community and economic development leaders, existing businesses within Opportunity Zones and those looking to develop projects in Opportunity Zones are highly encouraged to participate.
Thursday’s event will take place from 10 to 11:30 a.m. at the Greater Owensboro Commerce Center at 200 East Third Street. Register to attend the event and watch live online at www.KYOZ.com.
Along with the critical participation from local partners, the Cabinet oversees the Opportunity Zone initiative. The initiative aims to encourage and attract significant institutional, corporate and individual investment in Kentucky’s Opportunity Zones. The designation offers significant federal tax breaks and deferrals to entities and individuals investing in Opportunity Funds, which support development projects within one or more zones.
The Cabinet works with local partners to ensure the Commonwealth takes full advantage of the federal incentives and has established KYOZ.org, where interested parties can find all the information they need in one place. The site, which will be updated regularly with news, details, research tools and other useful amenities, demonstrates the advantages of Kentucky’s Opportunity Zones to potential investors.
For interactive maps, a full list of Kentucky Opportunity Zones, current corporate investment projects, data, opportunity funds info and more resources, visit www.KYOZ.com