Opportunity Zones
Key Partnerships/Collaborations
Appalachian Regional Commission (ARC)
The Appalachian Regional Commission (ARC) is a regional economic development agency that represents a partnership of federal, state, and local government. Established by an act of Congress in 1965, ARC is composed of the governors of the 13 Appalachian states and a federal co–chair, who is appointed by the president. Local participation is provided through multi–county local development districts. ARC’s mission is to innovate, partner, and invest to build community capacity and strengthen economic growth inAppalachia.
To ensure that funds are used effectively and efficiently, and to strengthen local participation, ARC works with the Appalachian States to support a network of multicounty planning and development organizations, or local development districts (LDDs), throughout the Region. North Delta Planning & Development District is one of the 73 LDDs serving one (Panola County, MS) of the 420 counties in the Appalachia region. The LDDs’ most important role is to identify priority needs of local communities.ARC has committed to using opportunity zone status as a determinant in funding competitions
Delta Regional Authority (DRA)
The Delta Regional Authority works to improve regional economic opportunity by helping to create jobs, build communities, and improve the lives of the 10 million people who reside in the 252 counties and parishes of the eight–state Delta region. Led by the delta Regional Authority Board–comprised of the Federal Co–Chairman, appointed by the President and confirmed by the U.S. Senate, and the governors of the eight states –the Delta Regional Authority fosters local and regional partnerships that address economic and social challenges to ultimately strengthen the Delta economy and the quality of life for Delta residents. Each of the seven (7) counties in the North Delta Planning & Development District is in the DRA service area footprint.
Established in 2000 by Congress, the Delta Regional Authority makes strategic investments of federal appropriations into the physical and human infrastructure of Delta communities.Through its States’ Economic Development Assistance Program (SEDAP), DRA makes strategic investments into economic and community development projects across the Mississippi River Delta region. 75 percent of these funds are invested in economically distressed counties/parishes, and 50 percent of these funds are invested into basic public infrastructure and transportation improvements, with the remaining directed to workforce development and business development/entrepreneurship. DRA has further committed to set–aside up to 10 percent of each State’s SEDAP allocation to provide grants for rural and economically distressed communities to develop Opportunity Zone investment prospectuses.
Department of Housing and Urban Development:
- Reduced Federal Housing Administration (FHA) Mortgage Insurance Application Fee for properties located in Opportunity Zones
- Established the Community Toolkit—learn about how communities can plan for investments in Opportunity Zones•Added Opportunity Zones preference points for 18 competitive grants since 2018
Department of Commerce/Census Bureau:
- Brought together the private and public sectors to develop digital tools that spur investment in Opportunity Zones, through The Opportunity Project
Department of Commerce/Economic Development Administration:
- Added Opportunity Zones as an Investment Priority
- Created web–based tool that offers information on EVERY Opportunity Zone
Department of Education:
- Included a 10–point Competitive Preference Priority in grants to charter school developers for the opening of new charter schools
Department of Justice:
- Made Opportunity Zones a priority consideration area for funding in response to the opioid epidemic
Department of the Treasury:
- Promulgated FINAL regulations for the Opportunity Zones incentive, bringing clarity and certainty to investors