Learn this phrase: Opportunity Zone

By Ákos Kovach

If there is anything we can all agree on is IRS codes, rules, programs and definitions make our heads spin like the girl in the Exorcist. But those of us who dig deeper than headlines and sound bites know that all good things require facts – generally found through research and by asking lots of questions.

For several months (over a year in fact) the Arizona Commerce Authority (ACA) has lead the charge here in Arizona and in Greenlee County specifically, to motivate us in securing not one but two Opportunity Zones in Greenlee County.

First, a thank you to Keith Watkins Senior Vice President of Economic and Rural Development at the ACA. Keith gave me a reminder call last year to inquire about the Greenlee County application for Opportunity Zone status. Without Keith’s outreach I might have missed the deadline to get our application finalized before the deadline.

Second, having worked alongside many County Supervisors in several counties across Arizona you need to know how impressive our elected tribunal is here in Greenlee County. You will actually have a chance to read articles from two of them District 3 Supervisor and Chairman of the Board Richard Lunt and District 2 Supervisor Ron Campbell both have articles in this months’ Clarion.

We are most fortunate to have this strong team leading and supporting the economic development efforts on behalf of Greenlee County. District 1 Supervisor David Gomez is often credited for his strong role in moving our county forward on this path, as he should be, and because of each of them individually and together as a Board Greenlee County is no longer ‘the forgotten county’.

On Tuesday Nov 27 in Benson Michael F. Patterson, of Spencer Fane LLP, told the gathering of economic developers, one elected official (Bruce Bracker Supervisor from Santa Cruz County) and numerous others that the sound of the drumbeat from Greenlee County has definitely been heard in Phoenix and Tucson.

Expect more from your Economic Development Department in the coming days, weeks and months. Our newest promotional brochure: Greenlee County – Qualified Opportunity Zones – has been a big hit already and is available at our office and soon – online. 5 target areas are identified, a quick who, what when, where. The references and information provided in this brochure are for informational purposes only AND NOT for the purpose of providing legal advice or tax professional advice. You should contact your attorney and or tax specialist to obtain the advice you seek with respect to any particular legal or financial issue or question you have.

So what is next? Expect action. Expect a public forum. And as always contact this office with any questions, requests for support, etc. 928-865-4762 or economicdevelopment@co.greenlee.az.us

Opportunity Zone

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