jobs. As an opportunity zone, this large, rural mountaintop
site is now being developed as an industrial park.
With 6,000 acres, a labor shed of more than 400,000 and a
willing workforce, the county hopes its opportunity zone des-
ignation will attract investment into the area and create jobs.
“We have skilled people and a great location with large
parcels of flat property,” says Kris Mitchell, director of the
Boone County Development Corporation. “Our people need
jobs, and our county needs a tax base.”
Having already developed a pitchbook highlighting the zone
and its potential, the county is currently marketing the site to
entice investment. Additionally, current projects are working
with federal and state entities to address infrastructure upgrades,
generating interest from investors and companies both inside
and outside the area.
“We hope it will help us move forward into a new, diverse
economy,” says Mitchell. “For the investor, opportunity zones are
a way to save money on the outset and make more money long
term. For the county, they can bring revitalization and hope to
our distressed area.”
In Randolph County, WV, community leaders have struggled
with significant funding shortfalls and trouble getting revitaliza-
tion efforts off the ground. As an opportunity zone, Randolph
County aims to attract private investment for redevelopment
projects, which include the historic downtown area, Elkins Rail
yard, Davis & Elkins College, Davis Medical Center’s campus
and a variety of neighborhoods and government buildings.
“The opportunity zones program has given new life to
our projects,” says Robbie Morris, executive director of the
Randolph County Development Authority. “We hope the op-
portunity zones will provide incentive for private investment
in our community as it has great potential for development.”
Leaders in Randolph County are hoping for renovation of
historic buildings, creation of anchor businesses, boosts in
tourism and overall revitalization.
The zones in Fairmont, WV, cover most of the historic district,
downtown riverfront area, a significant portion of East Fair-
mont’s downtown and a broad stretch along a proposed rail
trail development site. The city’s zones are unique, diverse and
in need of investment, and its leaders are working to attract
capital to these distressed areas.
“In Fairmont, opportunity zones align with new market tax
credit areas such as our historic footprint and the proposed
trail corridor,” says Kate Greene, principal and owner of
Mountain Town Strategies. “This means there’s potential to
combine varying tax credit resources to make large, transfor-
mational projects even more feasible.”
Fairmont’s Opportunity Zone designation has generated
conversations, education and outreach among investors, busi-
ness owners and community leaders. According to Greene, there
are some private developers exploring funds for projects, but
coordinated efforts among local leaders to leverage this tool
are still in progress.
“I hope opportunity zones deliver what they were intended
to deliver—long-term investments in areas that need them
most, like Fairmont,” she says. “I would love to think a tool
like this could be used to build community wealth and not just
more wealth for the already wealthy.”
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