The Governance Project’s (TGP) national Opportunity Zone tour is coming to Oklahoma on August 13 and 14.
TGP chief executive officer Stephanie Copeland and program directors Colin Higgins and Yvonne Durbin are scheduled to meet with public and private leaders to discuss Oklahoma’s Opportunity Zones.
“Federal Opportunity Zones can play an important role in increasing investment and development in some of Oklahoma’s high poverty areas,” said Oklahoma Lt. Gov. Matt Pinnell. “We are looking forward to talking to The Governance Project about Oklahoma’s Opportunity Zones and what opportunities they would be best suited for.”
“The Oklahoma Department of Commerce has been working hard to collaborate with the necessary parties, including the federal government, tribal and community leaders, industry sectors and others, to identify the unique potential of each zone so that we can maximize the impact they can have on the lives of Oklahomans and in the future of our state,” said Sean Kouplen, Oklahoma Secretary of Commerce and Workforce.
Following the meetings, TGP’s Higgins and Durbin will tour Opportunity Zones with investors, fund builders and community leaders to collect project-specific insights that can assist project advancement.
“Local engagement and local leadership continue to be major drivers for Opportunity Zones to realize the legislative intent of transformative community benefit,” said TGP CEO Stephanie Copeland. “We look forward to engaging leaders in discussions about access to capital and resource deployment that can advance Oklahoma’s Opportunity Zone projects and maximize their impact on designated tracts.”
2019 remains a pivotal year for communities to advance Opportunity Zone participation as the layered tax incentives that are the driving force behind private capital attraction will achieve maximized benefit if investment is initiated prior to year’s end.
As currently stipulated in the 2017 Tax Cuts and Jobs Act, Opportunity Zones’ capital-inducing tax deferrals and exclusions remain in effect on qualified investments through 2026 in pre-defined tiered benefits that are based on the length of time that the qualified Opportunity Zone investment is held.
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