State of Missouri Hopes Opportunity Zones Will Spur Job Growth and Revitalization
The state of Missouri is hoping to create new jobs and revitalize communities by identifying new, so-called “Opportunity Zones.”
Missouri’s Department of Economic Development says a total of 161 “opportunity zones” will give incentives for private investors to bring their infrastructure, businesses, and housing projects to those zones. According to a press release from the City of Springfield, the goal of the program is to attract investors to areas that might not otherwise be considered.
Those who invest in an opportunity zone will receive a capital-gains tax deferral and other tax incentives.
Zones were nominated through written proposals from local governments. You can see a description of those areas, which include north Springfield, downtown, and other areas, on our website: www.ksmu.org.
According to the city, zone designation is only valid for 10 years.
North Springfield Opportunity Zone
Starting at corner of North Farm Road 103 and West Farm Road 94, east on West Farm Road 94, which turns into West Farm Road 92 where it crosses Highway 13, then following the South Dry Sac River to State Highway H, South on Highway H to Interstate Highway 44; West on Interstate 44 to U.S. Highway 65; south on Highway 65 to East Chestnut Expressway; west on Chestnut to North Glenstone Avenue; north on Glenstone to East Kearney Street; west on Kearney to North West Bypass; south on West Bypass to West Chestnut Expressway; west on Chestnut to North Airport Boulevard which turns into State Highway EE; North on Highway EE to North Farm Road 103 to West Farm Road 94.
Downtown Springfield Opportunity Zone
Starting at the intersection of North Broadway Avenue and the BNSF rail line just north of Commercial Street, east along BNSF rail line to North National Avenue, south on National to East Trafficway Street, west on Trafficway to John Q. Hammons Parkway, south on Hammons to East Cherry Street, west on Cherry to South Jefferson Avenue, south on Jefferson to East Harrison Street, west on Harrison to South Avenue, north on South to West Mt. Vernon Street, west on Mt. Vernon to South Grant Avenue, north on Grant to West College Street, west on College to North Kansas Expressway, north on Kansas to the BNSF rail line just north of West Water Street, east along BNSF rail line to North Fort Avenue, north on Fort to West Phelps Street, east on Phelps to North Weaver Avenue, north on Weaver to West Chestnut Expressway, east on Chestnut to North Broadway Avenue, north on Broadway to BNSF rail line just north of West Commercial Street.
Central Springfield Opportunity Zone
Starting at corner of South Kansas Expressway and West Sunshine Street, east on Sunshine to South National Avenue, south on National to East Sunset Street, west on Sunset to South Kansas Expressway, north on Kansas to West Sunshine Street.