In partnership with the City of Seymour and the Seymour Redevelopment Commission, Jackson County Industrial Development Corporation is assisting in the planning and marketing of an area in the southeastern section of Seymour which has been names an “Opportunity Zone” by the U.S. Treasury Department. This designation can provide tax incentives for investors in that area.
A Phase I study of the census tract was completed and a community meeting was held in late November to report the results of the study. A follow-up meeting was held and it was determined that the Redevelopment Commission would be asked to fund a Phase II study.
The federal “Opportunity Zone” program was created in the 2017 Tax Cuts and Jobs Act and provides federal capital gains tax incentives to attract private sector investment.
Seymour Mayor Craig Luedeman said the area that qualified for zone status will soon see the southern extension of Burkart Boulevard built through it, thus creating possible investment opportunities for industry, commercial and housing projects.
Indiana Governor Eric J. Holcomb had submitted 156 areas for Opportunity Zone status which were all approved by the U.S. Treasury Department in May. The 156 zones in Indiana are located in 58 counties covering all or portions of 83 cities and towns.