Appalachian Community Capital has announced receipt of a technical assistance grant from the Appalachian Regional Commission to help bring Opportunity Zone investment into Central Appalachian communities in Ohio, Virginia, and West Virginia. The Opportunity Zone incentive was established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities across the nation. Opportunity SWVA is serving as the state lead for Virginia in Opportunity Appalachia, a technical support initiative designed to strengthen investable transactions in target rural communities, attracting Opportunity Zone investors to back small businesses and real estate development, leading to more local jobs.
Opportunity Appalachia is expanding a program that has already supported 17 development projects in a three-state region in Central Appalachia that seek to raise over $250 million in financing.
There are 158 Opportunity Zones in Central Appalachian coal-impacted communities throughout Ohio, Virginia, and West Virginia. To participate in Opportunity Appalachia and to apply for technical assistance for project prospectus development and support for Opportunity Zone capital raising, please visit the Appalachian Community Capital website.
The Virginia Outreach Meeting to learn more about the Opportunity Appalachia program will be held on Mon, January 27, 2020 from 10:00 AM – 2:00 PM EST at the Southwest Virginia Higher Education Center in Abingdon. For more information please contact Becki O’Quinn at 276-254-0419 or firstname.lastname@example.org.