New Castle County Nominates 13 Areas for Federal Opportunity Zones
What happened
New Castle County nominated 13 local census tracts for federal Opportunity Zones. These areas include portions of the Route 9 corridor, areas near Wilmington and Newark, and the New Port of Wilmington expansion site in Edgemoor. The nomination is subject to certification by the U.S. Department of the Treasury.
From wdel.com
Why it matters
The Opportunity Zones program is designed to attract long-term, private investment into communities through tax benefits for investors. New Castle County's SPUR Program may be used to help qualifying Opportunity Zone investments go through the permitting process more efficiently.
From wdel.com
Who's involved
- New Castle CountyNominated 13 census tracts for federal Opportunity Zones.
- WilmingtonCollaborated with New Castle County on the nomination process.
- Matt MeyerGovernor of Delaware, whose legislative actions support the County's policy implementation.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- New Castle CountySpeculative
New Castle County might attract private investment and tax benefits through the Opportunity Zones designation.
- WilmingtonSpeculative
Wilmington could attract private investment and tax benefits to the city through the Opportunity Zones designation.
- ClaymontSpeculative
Claymont could see private investment supporting its ongoing revitalization efforts.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Opportunity Zones nomination may boost Claymont's revitalization effortsOpportunity Zones nomination may boost Claymont's revitalization effortsPossible
- Opportunity Zone efforts may speed up AWS land use approvalsOpportunity Zone efforts may streamline land use for AWS data center expansionPossible
- New Castle County's Opportunity Zones could boost Delaware's economyNew Castle County's Opportunity Zones may boost Delaware's economic developmentPossible
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The entities involved
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New Castle County
county in Delaware, United States
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Wilmington
seat of New Castle County, and largest city in Delaware, United States
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Matt Meyer
American politician