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Scottsbluff area designated as newly formed “opportunity zone”

Scottsbluff area designated as newly formed “opportunity zone”

A large portion of southeast and central Scottsbluff has been designated by Governor Ricketts as an opportunity zone to spur investment and economic growth in economically challenged communities through a new federal program.

The area runs from Highway 26 and East Overland west to Broadway and is bordered by East 20th Street to the north and the North Platte River to the south. Scottsbluff Economic Development Director Starr Lehl says people will now be able to benefit from tax incentives to invest in the area.

Lehl says, “The city can now start  an opportunity fund and people who want to defer capital gain taxes can put money in the Opportunity Fund, which can then be used for the betterment of that particular area.”

Lehl says the city council will need to establish the Opportunity Fund and then await guidelines on the new program to be released soon by the federal government.

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