Why Economic Developers Need to Market Their Opportunity Zones Now

Why economic developers need to market their Opportunity Zones now is to attract investors to the underfunded areas of their communities. Opportunity Zone legislation passed in 2017 and is designed to promote growth in stagnant and underdeveloped regions of the country. There are more than 8,700 Opportunity Zones designated through the U.S. in all 50 states, Washington D.C., and five U.S. territories.

Opportunity Zones identify areas where investment is needed to revitalize communities hit the hardest by socio-economic stress. Residents who live in areas designated as Opportunity Zones tend to suffer from unequal economic growth and access to capital. This has only been made worse by the pandemic.

Since there is no way for state and federal programs to properly address the needs of these areas due to lack of resources, political partisanship, and the process of creating and implementing successful economic programs, it is up to economic developers to advocate for their communities and attract investors to Opportunity Zones.

Why Economic Developers Need to Market Their Opportunity Zones Now

There is an unprecedented amount of federal investment dollars available for economic development and community growth, and now is the time to bring that money to your community. This new capital has the potential to:

• Fuel business expansion in your community
• Create jobs
• Bring in new residents
• Expand housing options
• Attract entrepreneurs
• Improve the quality of life for members of the community

Other communities are actively marketing their Opportunity Zones in an attempt to attract potential investors. If you want to compete for those federal investment dollars, you'll need a strategic marketing campaign that highlights the unique benefits of your community's Opportunity Zones. You can use your marketing efforts to effectively engage with potential investors and bring in much-needed capital to underfunded and underserved areas.

Successful Opportunity Zone Marketing

Successful Opportunity Zone marketing initiatives can target prospective investors from local, state, regional, and national levels. Why economic developers need to market their Opportunity Zones now is because time is running out. Investors need to invest in Opportunity Zones by 2022 in order to reduce capital gains taxes by 10% in 2022.

Marketing your community's Opportunity Zones requires research, strategy, and execution by a team that includes top-notch marketers, economic development experts, and community members. You don't have to figure all this out on your own - we're here to help you every step of the way so you can get the attention of investors.

As the national leader in economic development strategy and marketing, Golden Shovel Agency is ready to help you create an effective Opportunity Zone marketing plan that aligns with the goals you have to make sure every part of your community thrives. Our professional team, economic development experience, and cutting-edge marketing tools and strategies have earned the trust of over 240 communities in the United States, Canada, and the Caribbean.

Want to know more? Give us a call! We're happy to talk and answer any questions you have.

Download the Step-by-Step Guide to Marketing Opportunity Zones