HomeMy WebLinkAbout3.1.19 West Texas Regional Opportunity Economic Initiative PR
City of Plainview NEWS
901 Broadway St.
Plainview, TX 79072
March 1, 2019
Mayor Wendell Dunlap signs Statement of
Support at the West Texas Regional Opportunity
Economic Initiative Zone Summit
Plainview Mayor Wendell Dunlap signed a Statement of Support
at the West Texas Regional Opportunity Economic Initiative Zone
th
Summit on Thursday, February 28 at the Texas Tech Rawls
School of Business.
The Mayor joined other elected officials, mayors and county
judges from the South Plains communities that received
Opportunity Zone designations as well as the presidents and
CEOs of local banks, heads of Chambers of Commerce,
Economic Development Corporations and regional property
developers.
An Opportunity Zone is an economically distressed geographic
area, certified as such by the Secretary of the Treasury, where new investments into the
area may be eligible for preferential tax incentives. Opportunity Zones are economic
issues for the U.S. Tax Code. As of December 2017, there's been a delay while the U.S.
Treasury Department works to finalize rules for the program.
“West Texas is the first in the nation among local and regional governments to have this
type of collaboration for the Opportunity Zones,” says Mayor Wendell Dunlap. “While
many areas are in a wait and see pattern of how this initiative will work, the South Plains
decided to be pro-active and find ways to work together.”
The Initiative will create additional economic opportunities for the region by encouraging
more public and private investment within the region. The Initiative will also provide data
and economic information about investable projects within our region with the intention
of developing a Regional Investment Prospectus and working together on special
economic opportunities that involve multiple governmental entities within our region.
For more information about the Summit from Texas Tech, visit
https://today.ttu.edu/posts/2019/02/Stories/opportunity-zone-summit.
For more information about economic development activities in Plainview, contact
Jeffrey Snyder at 806.296.1100 or jsnyder@plainviewtx.org.
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