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Economic development

Opportunity Zones Transforming Communities in Indiana

Strategic Insights

— 1 min read

U.S. Department of Housing and Urban Development (HUD) officials, including Secretary Scott Turner and Great Lakes Regional Administrator Duey Stroebel, have been actively promoting the opportunities presented by Opportunity Zones in Indiana. A recent tour of model projects on the Indianapolis Eastside and Valley House Flats in Brookville highlighted the positive impact of these zones on local communities. As part of an ongoing effort to engage the private sector and facilitate discussions about Opportunity Zones, Regional Administrator Stroebel plans to host an OZ 2.0 Launch Event on September 30th. These initiatives aim to leverage Opportunity Zones to transform and revitalize communities, promoting significant investment in overlooked areas across Indiana and the nation.

Key Takeaways:

  • Opportunity Zones have had a significant impact in Indiana, with more than $89 billion in investment and the creation of more than half a million jobs nationwide.
  • The Valley House Flats in Brookville is an award-winning project and one of the first OZ investments in Indiana, showcasing the potential of Opportunity Zones in affordable housing and mixed-use development.
  • Regional Administrator Stroebel plans to host an OZ 2.0 Launch Event on September 30th to explore opportunities for collaboration among OZ partners in the Great Lakes Region.
  • The Opportunity Zones 2.0 initiative, authorized under the One Big Beautiful Bill Act, aims to build on the momentum of the original initiative and promote significant investment in overlooked areas across Indiana and the nation.
  • HUD Secretary Scott Turner has championed the importance and impact of Opportunity Zones, calling them "a great platform and a great vehicle for us to build affordable housing and new operating businesses which will be a blessing to our country."

Statistics:

  • Opportunity Zones have attracted more than $89 billion in investment.
  • The initiative has lifted more than one million Americans out of poverty.
  • More than 300,000 new residential addresses have been added through the increased housing supply.
  • The Valleys House Flats project has been recognized as an award-winning project.
  • The OZ 2.0 initiative aims to promote significant investment in overlooked areas across Indiana and the nation.

Sources:

  • U.S. Department of Housing and Urban Development (HUD)
  • Great Lakes Regional Administrator Duey Stroebel
  • Secretary Scott Turner
  • The Tax Cuts and Jobs Act of 2017
  • The One Big Beautiful Bill Act

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