Linden Neighborhood Conversation

Melanie Crabill
Director of Media Relations
[email protected]

Kevin Kilbane
Director of Communications
[email protected]

Media advisory
News Date: May 02, 2018

Ohio Designates 44 “Opportunity Zones” in Columbus To Entice Developers to Invest in Opportunity Neighborhoods

Columbus neighborhoods from the Far East Side to Hilltop will benefit from a new “Opportunity Zone” program from the U.S. Treasury. Forty-four census tracts in five of Mayor Andrew J. Ginther’s Opportunity Neighborhoods were recently designated based on recommendations from a community coalition lead by the City of Columbus. These neighborhoods will be eligible for “Opportunity Funds” that can help close funding gaps for current projects and provide more resources to benefit neighborhood-based economic development.

“I am committed to making sure every person in every neighborhood has the opportunity to succeed,” said Mayor Ginther. “The areas we suggested are already being targeted for public and private development and revitalization. We strongly believe that designating these tracts as Opportunity Zones can play a pivotal role in ramping up the work already taking place in these neighborhoods, both in scope and speed.”

The recently passed federal tax bill allowed states to identify up to 25% of low-income, high-poverty census tracts to the U.S. Treasury, which made the final determination of Opportunity Zones. A total of 320 tracts were accepted throughout the state. Once the U.S. Treasury Department establishes federal administrative rules for Opportunity Funds investment opportunities will be available for projects within the designated census tracts.

The City of Columbus evaluated potential tracks and consulted with the business community, institutes of higher education, other governmental partners and social service providers.

The city looks forward to working with developers on strategic plans for development within these census tracts.

An interactive map of the Opportunity Zones throughout the State of Ohio can be accessed here