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Around the State, December 2019

TNECD launches a new opportunity zone website

The Tennessee Department of Economic and Community Development  launched a new website aimed at promoting investment in the state’s 176 census tracts designated as opportunity zones (OZ) – areas where long-term investments can benefit low-income communities.

Within the zones, privately-operated Qualified Opportunity Funds can make investments in businesses, real estate developments and equipment that will stimulate activity in distressed areas.

The site was designed to align projects and investors by highlighting projects eligible for investment and funds interested in investing Tennessee. Communities, OZ funds and project developers can submit information through the site.

Communities in Wilson County expecting state-share revenues following 2020 Census

There is a wealth of information about the federal funding tied to the 2020 Census, but a recent article from the Wilson Post highlights the importance of the Census for gasoline and sales tax distribution to cities in the State. MTAS estimates that cities received nearly $142 per resident in state-shares revenues in 2019. Unless a special census is conducted a city or county’s decennial census totals serve as the basis for their distribution for the entire decade.