Gov. Dayton Submits Opportunity Zone Recommendation to U.S. Treasury
May 4, 2018
128 census tracts in Minnesota recommended for Opportunity Zone designation
ST. PAUL – Gov. Mark Dayton today recommended to the U.S. Department of Treasury 128 low-income census tracts in Minnesota to be designated as Opportunity Zones.
Opportunity Zones are a new economic and community development program established by Congress in the Tax Cut and Jobs Act of 2017 to encourage long-term economic development and housing investments in low-income communities nationwide.
“Expanding access to good jobs and better opportunities has been a top priority for my Administration. These efforts have been especially important in communities that are experiencing continuing economic disparities,” said Governor Mark Dayton. “The Opportunity Zones program provides Minnesota a great opportunity to work with local community leaders and our federal partners to build upon that important work and improve people’s lives.”
“Opportunity Zones have the potential to bring much needed investment to some of Minnesota’s lowest-income areas to spur economic development,” said DEED Commissioner Shawntera Hardy. “This program could lead to new strategies to bridge public-private partnerships.”
“We believe that some Opportunity Zones may be attractive for investments in workforce housing, which is in short supply in many communities around the state,” said Minnesota Housing Commissioner Mary Tingerthal.