Maximizing The Impact Of New Opportunity Zones

KINGSPORT, Tenn. - Nov. 14, 2018 - PRLog -- An ad hoc committee consisting of regional partners has convened to host Maximizing The Impact Of New Opportunity Zones on Monday, December 3^rd, 2018 from 8:30 AM – 12:00 PM at the MeadowView Marriott Conference Resort & Convention Center (Grand Ballroom).

This is a free seminar, but pre-registration is required. Please RSVP online at bit.ly/oppzonetn1 (https://www.eventbrite.com/e/maximizing-the-impact-of-new-opportunity-zones-tickets-52029050290)   or to Aditi Bhave at 423.392.8825 or abhave@tsbdc.org.

The keynote speaker will be Alex Flachsbart, President & CEO at Opportunity Alabama. Opportunity Alabama (or OPAL) is a first-of-its-kind nonprofit initiative dedicated to connecting investors with investable assets in Alabama's Opportunity Zones.

Opportunity Zones are a new community development tool established by Congress in the Tax Cuts and Jobs Act of 2017. This new tool is designed to drive long-term capital to low-income communities. The new law provides a federal tax incentive for investors to re-invest their capital gains into Opportunity Funds, which are specialized vehicles dedicated to investing in designated low-income areas.

There are 176 census tracts in Tennessee that are qualified opportunity zones. These low-income tracts were nominated by Tennessee and certified by the Secretary of the Treasury. Tennessee's 176 tract recommendations were determined based on a strategic and data-driven review of county mayor feedback in addition to consideration of state priorities and initiatives including:

• Business development and brownfield redevelopment opportunities

• Retail, commercial and tourism development opportunities

• Community and rural development initiatives

• Low-income housing development opportunities

• Proximity to entrepreneur centers, technology transfer offices, and colleges and universities

Who Should Attend: Attorneys, Accountants, Bank & Credit Unions, Investors, Developers, Entrepreneurs, Financial Advisors, Wealth Managers, Community Partners, City Planners, Housing Authorities, Foundations, Elected Officials and other professionals involved in commercial real estate transactions.

The event is co-sponsored by Appalachian Community Federal Credit Union; State of Tennessee Economic & Community Development; Kingsport Chamber; Bristol Chamber; Johnson City Chamber; NETWORKS Sullivan Partnership; Washington County Economic Development Council, ARC - Appalachian Regional Commission; Northeast Tennessee Regional Economic Partnership, Greene County Partnership Chamber of Commerce, Tennessee Housing Development Agency, First Tennessee Development District; Tennessee Small Business Development Center at East Tennessee State University; Kingsport Office of Small Business Development & Entrepreneurship.

The cooperative agreement between KOSBE and East Tennessee State University is partially funded by the U.S. Small Business Administration (SBA). SBA's funding is not an endorsement of any products, opinions or services. SBA funded programs are extended to the public on a non-discriminatory basis. Additional funding is provided by the Tennessee Board of Regents and the state of Tennessee.

Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Please contact Aditi Bhave — 423.392.8825; abhave@tsbdc.org; 400 Clinchfield Street, Suite 100, Kingsport, Tennessee 37660.

The Tennessee Small Business Development Centers Network, hosted by Middle Tennessee State University in Murfreesboro, TN, is an accredited member of the National Association of Small Business Development Centers and funded in part through a cooperative agreement with the U.S. Small Business Administration, participating universities and community colleges, and regional support partners. All SBA programs are extended to the public on a nondiscriminatory basis. All opinions, conclusions, or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA and other program sponsors. All information is deemed reliable, but not guaranteed. All information, events, and/or prices are subject to change or withdrawal. The Tennessee Small Business Development Centers Network shall not be held responsible for any typographical errors, misinformation, or misprints. Please confirm the information with the listing party.