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.
Invested capital gains & liability payment deferral is reduced by 10%.
Deferred payment and 15% reduction in liability of invested capital gains, accrued capital gains generated from the Opportunity fund investment are 100% tax exempt.
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.
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.
Opportunity Zone Highlights
The population within the OZ has hovered around 2,400 people for more than two decades
As the County Seat, the Town of Kentland’s population is 1,748 people
The Total Employment in Kentland as of 2017
Employed in Manufacturing
Employed in Trades, Transportation, & Utilities
Employed in Agriculture
Of adults 25+ years old have some college, associate’s bachelor’s degrees or more
Small Town Population
14,011 residents in 2018
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
Residents from the Silent Generation & Baby Boomers to Millennials & Gen Zs.
68% of businesses
employ 2-9 people
53% of jobs are with Stage 2 firms
Real Median Income
$53,060 in 2018
20% with Associate’s, Bachelors or Graduate Degrees
21.5% with some College
State of Indiana
Standard & Poor’s, 2020
A Top State for Doing Business
#4 in NBC America’s top states for business, 2019
#1: State Infrastructure
CNBC State Infrastructure Ranking, 2019
#2: Long Term Fiscal Stability
US News & World Report, 2018
Comp Prem. Rate
US News & World Report, 2018
Median Household Income