<div>Nov. 11---- The southeast portion of Willmar has been designated a 2027-2037 Opportunity Zone by the U.S. Department of Treasury, according to a news release from theMinnesota Gov.nominated 73 Minnesota census tracts, and all of those tracts will be officially designated as Opportunity Zones beginning Jan. 1, 2027.This federal incentive was established byand supports the Walz-Flanagan administration's economic development,and community revitalization priorities, according to the news release.As designated Opportunity Zones, investors in these areas can defer, reduce and eliminate capital gains taxes by reinvesting in Qualified Opportunity Funds that support real estate or business development in these areas.and the City of Willmar worked together to apply for three qualified areas.Minnesota Highway 23 borders the southern and eastern edge of the Opportunity Zone, and it extends along the U.S. Highway 12 corridor to approximately Sixth Street. The western border jogs south and west from Highway 12, finally reaching the east side of First Street South at Willmar Avenue Southeast.The other two tracts that were not nominated by Walz, but for which the city applied, include the downtown area and an area west of First Street and south of downtown."(The Opportunity Zone) will allow investors to buy a property and improve it. When it sells at a higher value, there is a reduced or no capital gains increase," said Kandiyohi County Economic Development Executive Director Sheri Wegner. "As KCED and the city are working towards development in our downtown district, this is a great tool."The first round of Opportunity Zones in 2018 attracted more than $910 million of investment in 76% of Minnesota's zones, according to the news release. Beginning in 2026, Treasury will publish eligible tracts every 10 years. States then submit nominations and final designations are certified and approved by Treasury.This new round includes enhanced tax benefits for rural areas and better reporting systems to learn what kinds of investments were driven by the incentive.The identified zones were a result of input from counties, cities and tribal governments who all shared priorities for their eligible census tracts. Thirty-five Minnesota counties submitted input, along with four cities (of the first class) and two tribal governments."These 73 new Opportunity Zones will help attract private investment and support good-paying jobs across Minnesota," said Minnesota Department of Employment and Economic Development Commissioner Matt Varilek in the news release. "As an investment tool, local partners and communities can now leverage this opportunity for economic growth."</div>

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Nov. 11---- The southeast portion of Willmar has been designated a 2027-2037 Opportunity Zone by the U.S. Department of Treasury, according to a news release from the. nominated 73 Minnesota census tracts, and all of those tracts will be officially designated as Opportunity Zones beginning Jan. 1, 2027. This federal...

Southeastern Willmar earns 2027-2037 Opportunity Zone designation

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Nov. 11---- The southeast portion of Willmar has been designated a 2027-2037 Opportunity Zone by the U.S. Department of Treasury, according to a news relea

Southeastern Willmar earns 2027-2037 Opportunity Zone designation

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