Indiana Continues to Push 'Opportunity Zones'

Posted: Updated:
The panel included (L-R) Kostas Poulakidas of Taft Stettinius & Hollister LLP, Bedel, Tom Peck of Hageman Group and Laurie Schultz of Avenue Development. (Picture: Adam Campagna) The panel included (L-R) Kostas Poulakidas of Taft Stettinius & Hollister LLP, Bedel, Tom Peck of Hageman Group and Laurie Schultz of Avenue Development. (Picture: Adam Campagna)
INDIANAPOLIS -

The president of the Indiana Economic Development Corp. says the organization continues to educate investors, developers and regional leaders about the Opportunity Zone program that she says is "moving very quickly." Indiana has been approved for 156 designations throughout the state for the program, which provides tax incentives to attract private investment to low-income communities. Elaine Bedel says many of Indiana's Opportunity Zones are "primed" for development, and the additional incentives could push them over the edge for private investment.

The federal program was created with the passage of the Tax Cuts and Jobs Act. At the time, Governor Eric Holcomb called the program "one more tool to attract investment and help more of our Hoosier communities succeed." Indiana's tracts cover all or portions of 83 cities in 58 counties throughout Indiana. You can connect to the full list by clicking here.

Bedel says the Opportunity Zone incentives come on top of state incentives already offered by the IEDC. However, she says investors still need to do their homework.

"It has to be a good project," says Bedel. "It has to be a good business that you want to put your money into, because you now are an equity owner."

Bedel took part in an event organized by the Indiana Construction Roundtable Thursday in Indianapolis. The panel, titled Jumpstarting Communities With Investment - A Detailed Discussion About Opportunity Zones" also included Laurie Schultz of Avenue Development, Tom Peck of Hageman Group and Kostas Poulakidas of Taft Stettinius & Hollister LLP.
 

Speaking to Inside INdiana Business after an Indiana Construction Roundtable event, Bedel says investors need to do their homework about the program.
  • Perspectives

    • Sink or Swim: How to Stop Sabotaging New Hires

      You've jumped through the hiring hoops and emerged with some transformational talent. Before joining your company, Joe slashed costs and doubled revenue at his previous job, and Sue is known for building record-breaking teams and product launches. It should take them no time to produce similar results in your organization, right? In reality, Joe and Sue’s performances will hinge heavily on how you manage their post-hire assimilation: a cycle all new hires experience, lasting...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy Butler University)

      Aramark to End Operations at Butler

      Aramark Educational Services LLC has detailed plans to lay off 200 workers in Indianapolis. In a notice to the state, the company says the decision is the result of Butler University not renewing its contract to provide food services on the campus.

    • Sink or Swim: How to Stop Sabotaging New Hires

      You've jumped through the hiring hoops and emerged with some transformational talent. Before joining your company, Joe slashed costs and doubled revenue at his previous job, and Sue is known for building record-breaking teams and product launches. It should take them no time to produce similar results in your organization, right? In reality, Joe and Sue’s performances will hinge heavily on how you manage their post-hire assimilation: a cycle all new hires experience, lasting...

    • Metal Powder Products has Indiana operations in Noblesville and Campbellsburg.

      Manufacturer Growing Noblesville Operations

      Noblesville-based Metal Powder Products has announced plans to move a manufacturing division from Ohio to Hamilton County and add up to 80 jobs by 2020. The powder metallurgy product manufacturer says it will invest $1.5 million to increase production capacity in Indiana. The company currently employs more than 350 associates in its Noblesville and Washington County operations, and over 1,100 overall in the U.S. and China. MPP says it has already hired 51 employees as part of the...

    • (Image courtesy of Vectren Corp.)

      Vectren Receives Approval for New Solar Farm

      Evansville-based Vectren Energy Delivery of Indiana has received approval from the Indiana Utility Regulatory Commission to build a 50-megawatt universal solar array in Spencer County. The solar farm will be approximately 300 acres and will house nearly 150,000 solar panels.

    • Governor Eric Holcomb will be the keynote speaker at this week's event.

      Hoosier Businesses Honored For Longevity

      The state is celebrating 65 companies and organizations throughout the state for their longevity in Indiana. Governor Eric Holcomb is presenting the Governor's Century or Half Century Business Award to each honoree for their service to their employees, community and state.