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)

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

    • The Race for a Winning Credit Score

      It’s May in Indy and the sound of revving racecar engines signals good times to come. But try to keep your spending under the yellow flag. Overspending on credit cards during the festivities could turn that May engine roar into a dreaded credit score “dent” come June. That’s not a great way to kick off summer. Here’s what to watch out for so your credit score will be a winner! FICO Credit-Scoring System The FICO (Fair Isaac Corporation) is the most...


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


  • Most Popular Stories

    • (photo courtesy Parkview Health)

      Hoosier Hospitals Among 'Best Places to Work in Healthcare'

      Seven Indiana hospitals are featured on Modern Healthcare’s list of Best Places to Work in Healthcare. The publication says honorees on the list were selected for their ability to “stand out in their efforts to create an empowered and satisfied workforce.” 

    • Indiana Rail Operator to be Acquired

      The owner of several Hoosier short-line railroads will soon be under new ownership. Illinois-based Pioneer Railcorp has announced an agreement to be acquired by BRX Transportation Holdings LLC.

    • (rendering courtesy PTS Diagnostics)

      New Headquarters to Open in Whitestown

      Medical device manufacturer PTS Diagnostics will today open its new global headquarters in Whitestown to all Indianapolis-area employees. The 135,000-square-foot facility will feature expanded manufacturing and office space to accommodate a majority of the company's current 240 employees as well as several open positions.

    • Photo courtesy of the Ball State University Alumni Association

      Ball State Alumni Association President Dies

      The executive director, president and chief executive officer of the Ball State University Alumni Association has died. Ed Shipley spent 34 years working for the university, 31 of which were with the Alumni Association.

    • Developer Invests in Indy Internet Provider

      Indianapolis-based real estate developer Milhaus has announced a $5 million investment with a high-speed Internet service provider in Indy. Milhaus says the capital investment with Xiber LLC will have a specific focus on sales, customer support and executive leadership. Tadd Miller, chief executive officer of Milhaus, says the investment is the latest step in a more than three-year-old relationship between the two entities.  Miller says his company had been looking for a...