The City of Indianapolis is poised to benefit greatly from community investments made by participants in the federal Opportunity Zone program, according to one of the chief architects of the program.
Appearing March 13 at an Opportunity Zone event hosted by Ice Miller LLP and Katz Sapper & Miller LLP at the Conrad Indianapolis, Steve Glickman, co-founder of the Economic Innovation Group and chief executive officer of Develop LLC, implored public and private sector leaders to develop a comprehensive and integrated strategy for marketing Indianapolis’ competitive advantages to capital sources throughout the country.
Steve relayed to the audience that the success of the Opportunity Zones program depends in no small part on the ability of state and local governments and community stakeholders to align the goals of the Opportunity Zones program with state and local priorities. He highlighted the efforts of governors in Ohio and Maryland to provide state tax credits for opportunity zone investments as examples of the type of innovative thinking necessary to attract private investment into Opportunity Zones in their states.
Steve was bullish on the potential for Indianapolis to attract Opportunity Zone investment. Following Steve’s appearance, a panel of Indianapolis business leaders and advisors discussed their efforts to marry their business objectives with the evolving requirements of the nascent Opportunity Zones program. The firms organized this event, which brought together over 200 real estate developers, fund managers, wealth management professionals, state and local government officials and other thought leaders to identify best practices for spurring investment in and development of Opportunity Zone projects throughout the state of Indiana.