Mayor Flaggs a panelist at Opportunity Zone Summit

Vicksburg Mayor George Flaggs Jr will be a panelist at the Southeastern Regional Opportunity Zone Summit on Tuesday, Oct. 1.

In a release, Flaggs said he was looking forward to joining HUD Sec. Ben Carson and Gov. Phil Bryant in Jackson at the summit. “Relationships matter!” Flaggs wrote.

The purpose of the event is to examine how the federal Opportunity Zone incentive can accelerate regional efforts to build a stronger, more vibrant and resilient Southeast economy, and strengthen equitable growth in communities across Mississippi, the region and the country.

Opportunity Zones were created under the 2017 Federal Tax Cuts and Jobs Act which provides incentives for qualified investors to invest capital gains in low-income, rural communities across the United States. The idea is based on bipartisan legislation originally introduced by Senators Tim Scott (R-SC) and Corey Booker (D-NJ). According to estimates from the U.S. Treasury Department, up to $6 trillion in sidelined capital could move into 8700 eligible census tracts.

The event begins today, Sept. 30, with an Opportunity Zone bootcamp, offering training to help Southeastern communities be OZ-ready.

Day two, Oct. 1, features elected officials, economic developers, community leaders, private investors, and U.S. administration officials to discuss the power and promise of the new federal Opportunity Zone incentive.

For more information, visit the event website.