In the Zone
The nation’s newest investment opportunity for businesses and developers is already at work in Grandview, Missouri.
On Tuesday, April 24, Mayor Leonard Jones and the Board of Aldermen approved Grandview’s first Opportunity Zone (OZ) investment by Winco Fireworks International, LLC. Winco will build a new headquarters in Grandview, moving its offices and more than 25 employees from Prairie Village, KS.
“These private investments in Opportunity Zones offer powerful potential to spur economic growth,” explains Mayor Leonard Jones. “We’re looking forward to this newest incentive living up to its name.”
Michael Collar, President of Winco, is looking forward to the new project and the move. "The Opportunity Zones program allowed us to move our corporate headquarters to Grandview, and we're excited to build a long-term investment in this community, “explains Collar. “We're especially proud to be able to bring new jobs to this area of the city."
Winco’s new headquarters will be built in the SouthPointe Business Park along Botts Road and 134th Street. Area businesses include Dayton Freight, Kelly Construction Group and National Oceanic and Atmospheric Administration (NOAA).
“Grandview was successful in facilitating its first Opportunity Zone deal because of its streamlined entitlement process, ability to pair existing incentives within its Opportunity Zone, and overall guidance and direction from US Congressman Emanuel Cleaver II, the district’s representative and original OZ legislation co-sponsor, “said Dr. Troy Nash, Economic Development Consultant for the City of Grandview.
City Administrator Cemal Umut Gungor is optimistic Winco is the first of many OZ deals to come. “Grandview is a city on the rise. Closing the first Opportunity Zone deal in the metro is an eye-catching accomplishment! We’ll take advantage of this momentum to bring more growth to this amazing community.”
Grandview’s OZ is located mostly on the western side of Grandview running north from Martha Truman Road South to 143rd, just north of MO HWY 150. A map can be found here: http://www.grandview.org/work/city-government/opportunity-zone
The Opportunity Zones program is a federal community investment tool, encouraging long-term investment in low-income areas of the state. It allows investors to re-invest unrealized capital gains in designated census tracts. Missouri has 161 Opportunity Zones.