Winrock International and the Arkansas Economic Development Commission launch Opportunity Arkansas, a website with information about investing in Opportunity Zones.
The federal Tax Cuts and Jobs Act of 2017 created Opportunity Zones as economic development and job creation tools for distressed communities. Governors of each state nominated low-income census tracts to become Opportunity Zones, certified by the U.S. Secretary of the Treasury through the Internal Revenue Service.
Once an area is designated an Opportunity Zone, new investments in that community qualify for preferential tax treatment. In Arkansas, 85 census tracts were certified as Opportunity Zones.
The Opportunity Arkansas website is an online source for citizens, community leaders, investors and others to learn about, search for and submit Opportunity Zone projects in Arkansas. The site is funded by the Delta Regional Authority and the Winthrop Rockefeller Foundation.
The groups said Opportunity Arkansas aims to attract local and national capital, increase the exposure and referrals of projects, generate new businesses and create jobs.
"We know from experience that small and rural communities are often overlooked because they lack the information needed to access and attract investment opportunities," Winrock International U.S. Programs Senior Director Linsley Kinkade in a news release. "Opportunity Arkansas will help address that gap by providing easy, actionable investment information for areas of our state that need it the most."