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Newton County

Opportunity Zone (OZ)

Kentland, IN (Census Tract: 18111100700)

About "The OZ"

The Tax Cuts and Jobs Act of 2017 Enables tax incentivized investment of realized capital gains, into designated Opportunity Zones.

The Opportunity Zone program is designed to spur community investment by providing tax benefits to investors who hold their investment between 5-10 years.

Federal Tax Advantages

Up to Five Years

Deferred payment of invested capital gains until the date the Opportunity Fund investment is sold or exchanged.
 

Five Years

Invested capital gains & liability payment deferral is reduced by 10%.
 

Ten Years

Deferred payment and 15% reduction in liability of invested capital gains, accrued capital gains generated from the Opportunity fund investment are 100% tax exempt.

Inquiries
Mike Davis

Newton Co.

Opportunity Zone

Task Force Director

219-869-1156

mdavis@kentland.in.gov

 

PROJECT 1:

Thrive Inter-Generational Wellness Campus

Thrive Intergenerational Wellness Campus is our bold step forward in enriching the lives of our residents and the county through sensory experiences. This estimated 4.5 million dollar investment would be a three-phase project consisting of a Senior Living Facility, a Childcare Center and Wellness Complex.

 

Creating an intergenerational campus is all about bringing people together. Thrive would enhance the town’s nearby assets, including the pool, basketball courts, ball diamonds and community center. Its program of activities would be located on a single property with a shared green space that would allow for natural interactions throughout the day between children and seniors. Seniors would have easy  access to our grocery store, pharmacy, restaurants and shops. Additionally, Thrive would include a Wellness Center. This means a licensed, on-campus, nurse practitioner would be available during regular business hours. All care received in the Wellness Center would be nurse-directed and based on physician-approved clinical protocols. To make communication as fast and simple as possible, all physicians could be reached through a tele-health system. Altogether, the project could generate upward to 30 new jobs within the community.

 

PROJECT 2:

Business Development

We’re Placing an Emphasis on Six Industries.

We want to see new companies plant themselves in our soil. In our conversations with residents and among our Task Force, we were able to identify six key areas of industry that Kentland is perfectly poised to meet the needs of: Warehousing, Logistics, Solar Energy, Agribusiness, Real Estate and Manufacturing. To complement these traditional opportunities, we are looking to support and develop small business and creative start-up businesses. For more information, please give our Opportunity Zone Task Force Director, Mike Davis, a call.

Warehousing
Logistics
Solar Energy
Agribusiness
Real Estate
Manufacturing
Opportunity Zone Highlights

20 Years

The population within the OZ has hovered around 2,400 people for more than two decades

1,748 People

As the County Seat, the Town of Kentland’s population is 1,748 people

1,120 jobs

The Total Employment in Kentland as of 2017

 

17%

Employed in Manufacturing

17%

Employed in Trades, Transportation, & Utilities

8%

Employed in Agriculture

44%

Of adults 25+ years old have some college, associate’s bachelor’s degrees or more

Newton County
Highlights

Small Town Population

14,011 residents in 2018

Active Workforce

Labor participation rate of 86% in 2017

Low Cost of Living

7% lower on the Cost of Living index than the U.S. as a whole

Generational Mix

Residents from the Silent Generation & Baby Boomers to Millennials & Gen Zs.

Small Businesses

68% of businesses

 employ 2-9 people
 

53% of jobs are with Stage 2 firms
(10-99 employees)

Real Median Income

$53,060 in 2018

Educated Community

20% with Associate’s, Bachelors or Graduate Degrees

21.5% with some College

 
State of Indiana
Highlights

AAA

Bond Rating

Standard & Poor’s, 2020


Compared to:

OH: AA+

MI: AA

KY: A

IL:  BBB

A Top State for Doing Business

#4 in NBC America’s top states for business, 2019

Compared to:

OH: 16th

MI: 27th

IL: 34th

#1: State Infrastructure

CNBC State Infrastructure Ranking, 2019

Compared to:

MI: 33rd

IL: 16th

KY: 2nd

OH: 4th

#2: Long Term Fiscal Stability

US News & World Report, 2018

Compared to:

MI: 26th

KY: 47th

OH: 40th

IL: 50th

#2: Workers'

Comp Prem. Rate

US News & World Report, 2018

Compared to:

MI: 15th

KY: 19th

OH: 16th

IL: 30th

$52,182

Median Household Income

6.5 Million

Total Population

 

Have some Opportunity Zone Q's?

Connect with the Opportunity Zone

Task Force Director, Mike Davis

Newton County ED logo - Transparent Newt

Newton County Economic Development Commission

4117 S 240 W., Suite 100, Morocco, IN 47963
 

888-663-9866 ext 2601

ncedc@newtoncounty.in.gov

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© 2020 Newton County Economic Development Commission