MSHDA is seeking feedback in the state’s efforts to identify Opportunity Zones. The Opportunity Zone Program was created as part of the 2017 Tax Cuts and Jobs Act to encourage long-term investment in low-income urban communities throughout the country.
There are more than 1,000 eligible low-income communities in Michigan and the Governor is able to nominate 25% of them as opportunity zones. He must submit the Opportunity Zone application to the US Treasury by Wednesday, March 21. At the direction of the Governor’s office, the Michigan State Housing Development Authority (MSHDA) and Michigan Economic Development Corporation (MEDC) have been working with the Talent and Economic Development (TED) Department to formulate census tract recommendations for Opportunity Zones in Michigan. Maps of the recommended opportunity zones by Michigan’s ten geographical Regional Prosperity Initiative (RPI) areas and further information can be viewed at the following website.
Jennifer Rigterink is a legislative associate for the League handling economic development, land use and municipal services issues. She can be reached at [email protected] or 517-908-0305.