Casa Grande comes in ‘10 of 10’ for opportunity zone investment
By Callan Smith | Rose Law Group Reporter
From left: Fernando Garcia, Casa Grande economic development specialist, Jeff Fairman, Eloy development specialist, Tim Kanavel, Pinal County economic development manager, Jordan Rose, Rose Law Group, founder and president, Dan Gauthier, Rose Law Group attorney, Robby Richards, founder and manager Phoenix Opportunity Zone fund, and Todd Pryor, Superior town manager
The opportunity zone tax incentive program is taking off, and Pinal County, specifically Casa Grande, is reaping the benefits.
The city ranks “10 out of 10” in opportunity zone investment, according to a recent extensive analysis by the Federal Reserve Bank of St. Louis, which ranked all the opportunity zones in the U.S. by investability, Robby Richards, founder and manager of Phoenix Opportunity Zone Fund, said at this morning’s Pinal Partnership breakfast event with a panel made of experts moderated by Jordan Rose, Rose Law Group founder and president.
The opportunity zone program is a tax incentive program that hasn’t been seen before. There are almost 9,000 zones across the country and 168 in Arizona. While there are still unanswered questions, the IRS will be providing the second round of guidance on opportunity zones in the next week or two, Rose Law Group attorney Dan Gauthier said.
The zones can be viewed through the Arizona Commerce Authority.
“The program offers three substantial tax benefits to invest in bringing new money, mostly private into zones,” and the purpose of the program is to offer substantial rehab and new development to distressed areas, rural areas and areas that don’t traditionally see as much private investment, Gauthier said.
