Don't Miss Using Opportunity Zones to Attract Families
22 Jun 2020
Even if we think we are paying close attention, we miss a lot of what is going on around us. For example, in this video, viewers see two teams passing a basketball around and are told to count how many passes the team in white shirts make. The video continues and viewers are very focused on counting those passes. Afterward, the narrator gives the answer, then asks, “But, did you see the moonwalking bear?”
The video rewinds and the viewers watch again with a new set of eyes, watching for this moonwalking bear. Sure enough, a very obvious bear walks right through the middle of the teams passing the basketballs and does a little dance before moonwalking off the screen.
There is a proverbial Economic Development bear dancing around right now and most organizations are missing the potential.
We are talking about Opportunity Zones.
Opportunity Zones are economically-distressed communities that may qualify for tax deferment. These Zones are a great tool designed to fire up communities and job creation in certain areas of the country.
Get started with our free Step-By-Step Guide to Opportunity Zones.
If you are an economic developer in a region that has an Opportunity Zone, you automatically have a powerful tool to use. Unfortunately, many communities we talk to are not utilizing and promoting their Zones. While you are focused so closely on something else, you are missing the “bear” walking right through your community and missing out on potential investment.
What should you be doing?
#1 Build Awareness
Business owners, entrepreneurs, and investors are searching “Opportunity Zones.” Does your community appear in the search results? If not, let’s create a digital marketing strategy.
#2 Don’t Wait
There’s always a reason to wait - I know you’re thinking of one now. But, if you continue to push it off, there will be a great cost to a missed opportunity.
#3 Lead Your Community
If your community has multiple Opportunity Zones that you need to market, maybe it’s a good time to learn a little more. If you need a refresher, watch our past webinar, Opportunity Zones: Marketing Your Zone for Development.
#4 Keep Moving Forward
The sweet spot for Opportunity Zones will end in 18-24 months. After that, tax advantages diminish and the investment return might not be as attractive. The time is right now to execute a digital marketing strategy.
Opportunity Zones in those areas of distressed and traumatized workers are ready to restart. Having new investments in your Zones will make those workers a true community asset. They will have beneficial skills and reenter the workforce. Many of the workers have deep community ties and can provide workforce stability many companies need. Opportunity Zones will attract investment to the communities that need productivity the most.
If you have an Opportunity Zone, or maybe multiple, but have not put together your marketing plan, please start that process now! Your Zones have the potential to help attract investment dollars that don’t usually flow into distressed communities.
Now is the time to see that moonwalking bear. Now is the time to promote your community Opportunity Zones.