DENVER — The Colorado Opportunity Zone Program is expected to pump millions of dollars of new investment into development in once overlooked areas. The program has the potential to fund a wide variety of projects, including real estate development, new infrastructure, affordable housing, renewable energy projects and startups. With such a substantial impact on development in Colorado, SMPS Colorado is focusing on this new tax incentive for their February Luncheon.
“We are excited to be able to offer this program that identifies the potential impact of the Colorado Opportunity Zone program to our members and guests,” said SMPS Colorado President Michelle Ott. “As the A/E/C industry continues to benefit from the good fortune of a healthy economy, it can be easy to overlook new opportunities that may be ripe for the taking.”
Tricia Allen, Adams County Economic Development senior vice president, will moderate the luncheon panel. Allen explained that the Colorado Opportunity Zone Program creates a multitude of opportunities for local communities to find resources and funding they may not have had access to previously. She stated that approximately one trillion dollars in unrealized capital gains could be invested in these opportunity zones.
With 126 opportunity zones throughout Colorado, Allen wants SMPS Colorado members to be able to put their companies in the best position possible to take advantage of upcoming projects. She said Adams County is currently identifying opportunities and presenting them to as many investors as possible.
Luncheon speakers include: Stephanie Copeland, Four Points funding managing partner; Erik Jensen, Brownstein Hyatt Farber Schreck, LLC shareholder; and Jana Perksy, Colorado Office of Economic Development and International Trade strategic initiatives manager.
As the state office of economic development is a lead agency in identifying the 126 tracks that are not certified, Allen said Persky was a natural partner to have on the panel. Jensen was chosen to help explain the drafted legislation. Copeland will be able to address which projects have come to her as well as what future projects will look like.
Come learn more about opportunity zones at the SMPS Colorado February monthly luncheon Wednesday, Feb. 13, from 11:30 a.m. to 1 p.m. at Denver Athletic Club, located at 1325 Glenarm Place in Denver. Tickets are $55 for members and $90 for non-members.
- Learn what an opportunity zone is
- How do opportunity zones apply to development projects and other types of investments?
- What requirements do development projects have to meet to be eligible?
- What cities are doing to attract opportunity zone investments to their community?
- What are the tax advantages for companies, real estate investors, and the development community?
- What types of projects are currently underway in designated opportunity zones?
Photo courtesy of SMPS