Under the law, each Governor is authorized to designate 25 percent of eligible census tracts as Opportunity Zones in their state. In Minnesota, 509 census tracts are eligible for designation. Governor Dayton recommended 128 low-income census tracts in Minnesota to be designated as Opportunity Zones, including downtown Moorhead, which was one of 3 eligible tracts in Moorhead/Clay County. While the details of this federal program are not expected to roll out until later this year, the City of Moorhead and Clay County are excited by the possibility of the Opportunity Zone program to be a catalyst for revitalization of underutilized properties in Moorhead's downtown neighborhood, bringing new businesses and housing opportunities to our community. Opportunity Zones will complement the work of our Economic Development Authority and the recently launched Downtown Moorhead Inc.
Governor Dayton indicates in the announcement of the selections, "The Opportunity Zones program provides Minnesota a great opportunity to work with local community leaders and our federal partners to build upon that important work and improve people's lives."
Watch for more information on Opportunity Zones as program details become available.
