Colorado: Governor Polis Celebrates Economic Development on the Western Slope at Opportunity Zone 2.0 Event

GRAND JUNCTION ~ Grand Junction, Colorado - Governor Jared Polis, along with representatives from the Office of Economic Development and International Trade (OEDIT), Grand Junction Economic Partnership (GJEP), and the Business Incubator Center (BIC), gathered today to discuss investment opportunities in the region. The goal of this meeting was to bolster Colorado's economy by attracting new businesses and creating more job opportunities.

During the meeting, Governor Polis emphasized the importance of investment in the state. He stated that as Colorado continues to grow, it is crucial for businesses to choose to expand and invest in the state. This not only allows for more housing to be built but also creates well-paying jobs and attracts innovative companies. The governor also highlighted the significance of utilizing the Opportunity Zone tax incentive to further boost investment in Colorado.

Eve Lieberman, Executive Director of OEDIT, expressed her pride in supporting the designation process for Colorado's next set of Opportunity Zones. This program aims to drive economic growth, job creation, and community revitalization in low-income areas by providing tax benefits for private investments in real estate projects and operating businesses. Lieberman noted that Colorado had a high success rate in receiving investments during the first round of Opportunity Zones, leading to transformative projects and housing units across the state.

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The Opportunity Zone program has been successful in promoting long-term private investments in designated low-income communities. With its second iteration, known as Opportunity Zone 2.0, there is a focus on rural economies. Lieberman shared that Colorado has seen significant geographic diversity in investments compared to other states, with 75% of its Opportunity Zones receiving investments. Additionally, 60% of zones nominated under Opportunity Zone 1.0 are located in rural areas of Colorado.

The meeting concluded with discussions on how state and local partners can work together to attract more people and businesses to Colorado. By doing so, they hope to improve both the economy and quality of life for residents. With the success of the Opportunity Zone program and continued efforts to promote investment, Colorado is well on its way to becoming a thriving hub for businesses and economic growth.

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