SALT LAKE CITY (ABC4) — 11 neighborhoods in Salt Lake County are in line for new investment as Governor Spencer Cox Gov. Spencer Cox has recommended the areas for a second round of federal Opportunity Zones.
Opportunity Zones is a national program that encourages private investment in communities that need it most and across the state, 147 areas qualified for this round.
After narrowing down the qualified locations, Salt Lake County’s Economic Development team worked with local cities to identify areas most in need of investment. The team then worked with the Governor’s Office of Economic Development (GOED) to recommend tracts that fit both local and statewide goals.
The recommended cities and areas.
- Salt Lake City – Former Bees minor league baseball stadium, between State Street and I-15.
- South Salt Lake – Between State Street and Jordan River, between 2100 South and roughly 3300 South
- Millcreek City – Millcreek City Center
- Murray – Intermountain Medical Center, Murray Central Business District
- Midvale City – Central Midvale between State Street and I-15
- Salt Lake City – Area near the proposed major league baseball stadium
- Sandy City – Historic Sandy and property near America First Field and the Mountain America Expo Center
- West Valley City – Area around the Maverik Center arena
- Taylorsville – Fore Lakes golf course and mobile home development
- Salt Lake City – East of downtown Salt Lake City between South Temple and 400 South
- Magna City – Historic Magna Main Street, Utah Inland Port project area, northwest Salt Lake City
About Opportunity Zones
Congress created the Opportunity Zone tax program in 2017 to increase development in low-income areas. Investors who meet program requirements can defer and reduce federal capital gains taxes…