Corianna Payton Scally and Amanda Gold raise the issue of housing and argue that the problem is equally challenging for rural communities.
Unequal economic recovery continues to favor select regions of the United States leaving behind large rural areas. In these areas, the shortage of housing is amplified.
It is estimated that over 75% of rural homes are owner-occupied leaving a shortage of rental homes. And, rural communities face a labor shortage in the construction industry and have a lower population density. Therefore, people and capital are not readily available to construct or remodel rental housing to meet the need.
Federal Programs ar...
This summer, at the 2019 Breakthrough Solutions conference in Little Rock Arkansas, Matt Dunne shared his message for economic growth in rural America. His presentation, "Stemming the Tide: Creating Digital Ecosystems in Rural Areas” focused on revitalizing rural areas.
He highlighted five areas that community leaders need to pay attention to:
Provide education and training for the digital economy
Develop a distributed work community
Improve entrepreneurship programs
Invest in downtown housing
Promote arts, culture and recreational amenities
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He called out the need for connectivity in rural communities, "It is the electricity of our time."
Rural communities are familiar with the struggles o...
The 2017 Tax Cuts and Jobs Act is designed to bring investment to distressed neighborhoods. By creating Qualified Opportunity Zones (QOZ) communities can offer investment vehicles for people seeing tax incentives.
Investors who invest in an opportunity zone can defer capital gains on sold assets until December 31, 2026 or until they decide to sell the asset. Additionally, any gains from the investment may be realized tax-free. This can be a powerful incentive to drive investment into distressed areas.
Opportunity zones have gained widespread attention and communities are starting to create marketing materials and strategies to attract investors and developers.
According to "Investin...