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Opportunity Zones workshop set for Tuesday in Somerset; state officials to share latest information

Opportunity Zones are expected to have a great impact on the future of economic development in Kentucky. A workshop has been scheduled for Tuesday in Somerset to help community and business leaders and others take advantage of this new economic development tool.

Representatives from the Kentucky Cabinet for Economic Development and the Department for Local Government will be present 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. Participation is highly recommended for elected officials, community and economic development leaders, existing businesses within Opportunity Zones and those looking to develop projects in Opportunity Zones.

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.org.

What: Opportunity Zones Workshop

Where: The Center for Rural Development, 2292 South Highway 27, Somerset, KY 42501

Register for the event and watch live online at www.KYOZ.org.

When: Tuesday, Dec. 18, 2018 from 10 a.m. to noon EST

From Kentucky Cabinet for Economic Development

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