Oklahoma City Mayor David Holt was recently quoted in an article for Governing highlighting the work his city is doing to continue to expand opportunity for the people of Oklahoma City around Opportunity Zones.
Oklahoma City’s downtown opportunity zone also covers its tax increment financing district, allowing investors to benefit from both programs. And thanks to a 2017 ballot initiative in which voters approved $50 million for job creation, the city is able to negotiate additional tax incentives for businesses in return for an agreed-upon number of jobs to be created. Mayor David Holt says he plans to use all the tools available to attract opportunity zone businesses to his city.“If you are looking for ways for cities to not just sit back and wait for people to invest in opportunity zones,” Holt says, “we have a little to play with.”….“If nothing else, opportunity zones get people looking around at places around the country,” Holt says. “So maybe people look at the best deal in OKC and invest here instead of the 200th best deal in Los Angeles.”
You can read the entire article by J. Brian Charles here.