County aims Opportunity Zones at underdeveloped areas

Staff Report
Posted 7/24/19

A new group will look for ways to spur economic development throughout Adams County, County Commissioners announced July 16. The county’s Opportunity Zones Task Force, composed of residents, …

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County aims Opportunity Zones at underdeveloped areas

Posted

A new group will look for ways to spur economic development throughout Adams County, County Commissioners announced July 16.

The county’s Opportunity Zones Task Force, composed of residents, municipal economic development professionals, private landowners and housing advocacy groups appointed by the Board, will work to create a framework for development in nine areas of the county.

“In our pursuit of becoming the most innovative and inclusive county in the United States, Adams County believes Opportunity Zones set the stage for economic prosperity,” said County Manager Raymond H. Gonzales. “As one of the fastest growing counties in America, we are positioned to become the economic development hub of Colorado.”

The federal Tax Cuts and Jobs Act of 2017 established the Opportunity Zones program to encourage economic development in urban and rural areas that have not kept pace with the rest of the county’s growing economy. The program provides tax incentives for private investors to fund dedicated to projects within these zones.

To provide guidance and vision for the development of the nine zones within Adams County, the Board of Commissioners has created an Opportunity Zones Task Force.

The task force’s short-term goal is to develop a cohesive strategy to bring intelligent investment and growth to nine Opportunity Zones in Adams County.

Zones include the area surrounding where U.S. 36 and Interstate 25 meet, portions of Westminster, Federal Heights, Thornton and a Aurora south of Denver International Airport.

“Every Opportunity Zone within Adams County is full of exciting prospects,” said Board Chair Steve O’Dorisio. “We want to ensure the projects are not simply for the sake of development, but that they are conscious of the social and economic needs of the communities where they are located.”

More information on the Opportunity Zones is available on the county’s website, adcogov.org.

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