An updated opportunity for investment in economic development is set to come to Emporia at the start of the new year.
During the Regional Development Association of East Central Kansas Board of Directors’ monthly meeting on Friday, Emporia Main Street Director Casey Woods led a presentation on the Opportunity Zones 2.0 program overseen by the United States Department of the Treasury. The original opportunity zone was enacted a decade ago and Woods stated the 2.0 version has several notable differences, including being far more conducive to rural economic development in communities like Emporia.
The updated zone is set to encompass an area located to the north of Sixth Avenue and east and west of Commercial Street and will act as a mechanism that allows individuals to invest in lower-income areas to encourage widespread growth and development. Woods says in order to utilize the Opportunity Zones, there are several requirements a project must meet, including being a qualifying development type.
Woods noted the Opportunity Zones and any potential development within them are not a done deal at this time, as he says it will be “entirely contingent” on the outcome of the November 3 general election. Specifically, Woods says the outcome of questions 2 and 3 on the ballot related to the potential 10-year ban of high-impact data centers and battery energy storage systems could impact whether interested developers or companies choose to make the move to Emporia.
He elaborated, saying both outside and local entities have directly told him that depending on the outcome of said votes, it could send a clear message to interested investors.
In other business Friday, board members discussed the recently concluded community input sessions regarding the planned safety improvements to Emporia’s 15 railroad crossings, which is deep in the study phase at this time. RDA Interim President Lyle Butler stated to KVOE News that the RDA has no involvement in the actual physical aspect of the project; they are instead acting as a go-between for local businesses and employers to both convey information from the project team to said businesses and vice versa.
Additionally, Friday, the board received its latest update on the RDA President search from Vice Chair Bruce Boettcher. At this time, the RDA’s consulting firm Jorgenson Pace is continuing to vet potential candidates, with over 30 expressing interest thus far, according to Boettcher, who says the remainder of October will be a busy time as they look to narrow the field down to a dozen or fewer for initial review.
At this time, Boettcher says the goal is to have a candidate either selected or in the midst of negotiations by the start of the new year.
The RDA Board of Directors will reconvene for their regular meeting in November.
You can view an informational handout on the Opportunity Zones 2.0 below
