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Johnson County's Designated Federal Opportunity Zone
The City of Franklin and part of Johnson County, Indiana have been designated one of Indiana's Opportunity Zones.
Created in the 2017 Tax Cuts and Jobs Act, the federal government provides capital gains tax incentives to attract private sector investment in the Opportunity Zones.
The designated area in Johnson County includes a large portion of the City of Franklin, the Franklin Business Park, a west corridor to the Town of Bargersville, Indiana and north to the Town Whiteland, Indiana.
“This new program provides one more tool to attract investment and help more of our Hoosier communities succeed,” Indiana Gov. Eric J. Holcomb said.
Once approved by the U.S. Department of the Treasury, the designations remain in place for 10 years to encourage long-term investment in the selected communities.
The state collected extensive economic data on all eligible census tracts and received close to 2,000 recommendations, including input from 357 local officials, stakeholders and citizens.
“These selections were made after much public input and careful consideration, looking at both community need and potential opportunity for investment,” Gov. Holcomb said.
The 156 nominated census tracts are located in 58 counties covering all or portions of 83 cities and towns throughout the state. Indiana's Opportunity Zones cover more than 1,000 square miles.