The Tax Cuts and Jobs Act of 2017 (P.L. 115-97) allowed governors to nominate certain census tracts as Opportunity Zones, subject to approval from the U.S. Department of the Treasury. Up to 25% of a state’s low-income census tracts were eligible for designation.
The 156 Opportunity Zones in Indiana were selected based on a combination of factors including existing economic development programs and local coordination, economic and community data, the likelihood of attracting short- and long-term investment, and growing industry sectors within the community.
Located within Knox County are two census tracts that have been designated as opportunity zones, which are located in the city of Vincennes. Vincennes is the county seat and the oldest continually inhabited European settlement in the state.
Assets
- Good Samaritan Hospital is an 850,000 sq. ft. state-of-the-art medical facility.
- Extensive Network of rivers, parks, trails, and other natural resource amenities.
- The Pantheon: A Business and Innovation Theatre – Regional co-working and business incubator facility.
- Main Street features public & private investment for the expansion of mixed-use retail and housing.
- State of the art drinking water, stormwater & wastewater facilities as well as quality broadband services.
- Top-rated public and parochial elementary, middle, and high schools.
- Vincennes University, a public institution with 180-degree programs such as agribusiness, architecture, business, communication, construction, education, engineering, healthcare, performing arts, public service, and technology.
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