Invest New Iberia: New Iberia Opportunity Zone Prospectus Now Available
From Chad M. LaComb, J.D. | Economic Development Planner II, Acadiana Planning Commission:
The Acadiana Planning Commission (APC) is thrilled to announce the publication and release of the new New Iberia Opportunity Zone (OZ) Prospectus as part of the InvestAcadiana Opportunity Zone Initiative. InvestAcadiana is a joint initiative of Acadiana Planning Commission (APC) and One Acadiana (1A) to promote revitalization investment throughout Acadiana. Linked above is a copy of your community’s prospectus. Please feel free to share it with others in your community!
These new community marketing tools highlight the livability and investment assets of Acadiana’s rural OZ communities. Prospectuses were developed for Abbeville, Breaux Bridge, Church Point, Eunice, New Iberia, Opelousas, and Ville Platte. These OZ Prospectuses are a product of over 20 community stakeholder meetings and include information on potential catalyst projects within each community.
The prospectus development was supported by federal funding through the Delta Regional Authority (DRA). The DRA is a federal-state partnership created by Congress to promote and encourage the economic development of the lower Mississippi River Delta region. DRA invests in projects supporting transportation infrastructure, basic public infrastructure, workforce training, and business development.
Background. APC and 1A partnered with the Community Foundation of Acadiana (CFA) to create the Acadiana Opportunity Zone (OZ) Prospectus, an in-depth tool to provide investors and other stakeholders with an overview of the OZ communities. These new prospectuses are available virtually at InvestAcadiana.com. The InvestAcadiana.com website serves as an online information hub and matchmaking tool for investors, property owners, developers, and other stakeholders who wish to take advantage of the Opportunity Zone Tax Incentive.
Opportunity Zones were designated as part of the 2017 Tax Cuts and Jobs Act. These zones were selected in collaboration with State and Federal leaders to drive investment into distressed communities. The incentive offers deferments and savings on capital gains when investors deploy funds in Opportunity Zone projects.
InvestAcadiana has previously garnered national attention and was recognized as one of the Forbes OZ 20: Top Opportunity Zone Catalysts, a partnership between the Sorenson Impact Center and Forbes Magazine, on December 12, 2019. For its work on the InvestAcadiana Initiative, APC received the 2019 National Association of Development Organizations (NADO) Impact Award.