This article was in Wednesday’s (February 28th, 2018) Herald and News

Written By: Stephen Floyd, H&N Staff Reporter 

Klamath County is hoping to be included on a list of “Opportunity Zones” in Oregon to take advantage of investment incentives in the Tax Cuts and Jobs Act passed by Congress last year.

Officials are working with the Klamath County Economic Development Association (KCEDA) to draft an application due March 14 for consideration as an Opportunity Zone.

An estimated 262 communities in Oregon qualify for the designation, and roughly 84 will be selected. Gov. Kate Brown has until April 22 to declare which zones are approved.

Opportunity Zones are low-income areas with a poverty rate of at least 20 percent and median household income no greater than 80 percent of median household income for the region. People who use capital gains to invest in an Opportunity Zone are able to avoid paying taxes on those capital gains.

Commissioner Kelley Minty Morris said being designated an Opportunity Zone would give Klamath County another tool to help improve its economy.

“I thought it seemed like a great opportunity for additional funds for development for Klamath County,” she said.

Andrew Stork, with KCEDA, said early analysis shows there are specific sectors in the county that could certainly benefit from Opportunity Zone investments, though they are still in the early stage of looking into the program.

Data centers on horizon

Klamath County has been asked to contribute $25,000 toward a study looking at the viability of drawing data centers to the area.

The Klamath County Economic Development Association (KCEDA) would like to replicate success seen in communities like Prineville, which is now home to Apple and Facebook data centers.

Andrew Stork, spokesperson for KCEDA, said their goal is to take an educated approach and learn how specifically to market and prepare Klamath County for this sector of the tech industry.

Stork said developments like the Tech Hills industrial park and the cyber security zone proposed by Commissioner Kelley Minty Morris are all assets the county could expand upon to woo data centers. He said the parameters of the study have yet to be nailed down as KCEDA is still in the planning phase.

Commissioners have yet to dedicate funds to the study and so far gave mixed reactions to the request. Commissioner Derrick DeGroot said he likes what data centers could bring to the community, though Commissioner Donnie Boyd said he would be uncomfortable fulfilling KCEDA’s request without matching funds from Klamath Falls, as the city is more likely to benefit from a data center.

To read this article and others on the Herald and News website, please refer to the following link:

County Seeking Designation as “Opportunity Zone” (H&N)