Gov. Walker Encourages Feedback about Opportunity Zones

    Juneau, AK (KINY) - Governor Bill Walker encouraged Alaskans to submit input on the designation of Opportunity Zones in Alaska.

    The Opportunity Zones Program, established by Congress in 2017, provides tax incentives to private corporate and individual investors who invest in low-income communities around the country. The deadline to provide input on which zones should be classified as Opportunity Zones is 5pm on Thursday.

    Input can be sent to this email address - opportunityzones@alaska.gov

    Those sending in proposals should adhere to the following guidelines:

    • Identify the census tract being proposed (see maps for identification numbers)
    • Describe the economic hardship in the area
    • Fully articulate active or upcoming projects capable of making use of the capital gains incentives (including project descriptions, timelines, and complementary investment)
    • Include any other information that is relevant to the designation as an Opportunity Zone

    According to the press release, the primary basis for selecting areas for Opportunity Zone designation is their categorization as a low-income community census tract, as defined by federal regulation. When selecting from among the eligible tracts, the State will weigh numerous considerations based on available information, including: community support, project feasibility, workforce readiness, alignment with existing initiatives, economic hardship, geographic representation, and investment opportunity.

    Maps of eligible census tracts are available on the Division of Economic Development website. More information on Opportunity Zones is available at the Department of Commerce, Community and Economic Development website.

     

     

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