The federal Tax Cuts and Jobs Act of 2017 established the Opportunity Zones program with the goal of encouraging 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 direct unrealized capital gains into funds 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.
“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 county’s Opportunity Zones Task Force will build a successful framework for development in these nine areas that is innovative in its approach and inclusive for the community. To properly advocate for diversity within the zones, the task force is composed of community stakeholders, municipal economic development professionals, private landowners, and housing advocacy groups appointed by the Board.
“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.”
The first meeting of the county’s Opportunity Zones Task Force is Wednesday, July 17, at the Adams County Government Center, 4430 S. Adams County Pkwy., Brighton. The task force’s short-term goal is to develop a cohesive strategy to bring intelligent investment and growth to the Opportunity Zones in Adams County.
More detailed information on the Opportunity Zones will be available soon at adcogov.org.