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Tuesday, December 17, 2019

State gets nod on opportunity zones

Posted By on Tue, Dec 17, 2019 at 3:52 PM

click to enlarge A vacant former Sam’s Club lies within a federal Opportunity Zone, making it a potential draw for investors seeking tax breaks. - FAITH MILLER
  • Faith Miller
  • A vacant former Sam’s Club lies within a federal Opportunity Zone, making it a potential draw for investors seeking tax breaks.

Colorado Springs was among three Colorado communities whose opportunity zone strategies were recognized by Forbes as sparking investment in underserved communities.

The “Forbes OZ 20: Top Opportunity Zone Catalysts” recognized the state of Colorado as one of 10 communities committed to achieving equitable economic growth in overlooked communities via opportunity zones. Forbes specifically mentions Colorado Springs, Pagosa Springs and Montrose.

The Pikes Peak region includes several federal opportunity zones, which were made possible through the 2017 Tax Cuts and Jobs Act and chosen by the state’s Office of Economic Development and International Trade. “Because of the noteworthy work in our region to revitalize some of our more underserved communities, once again Colorado Springs is getting some welcome attention,” Mayor John Suthers said in a statement.

The region’s opportunity zones include downtown, the North Nevada corridor, the Colorado Springs Airport area, Southeast, Fountain and Cimarron Hills.

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