What Pocatello business leaders are learning about Opportunity Zones

POCATELLO, Idaho (KIFI/KIDK) - Bannock County business leaders are seizing an opportunity to help the community while also saving themselves money.

Investors and city officials gathered in Pocatello for the Southeast Idaho Opportunity Zone Forum Wednesday.

Representatives from the U.S. Department of Housing and Urban Development, along with officials from the U.S. Small Business Administration, explained the benefits of investing in Opportunity Zones.

These zones are areas within a community that the government deems “in distress” or low income.

By investing money into a fund that helps develop these low-income areas, participants learned that investing in a qualified opportunity fund can have tax advantages.

“If there’s a way we can grow this community in a reasonable and responsible fashion, we should look at it,” general manager for Cole Chevrolet, Art Beery said.