LAFAYETTE, La. – (PRESS RELEASE) The Acadiana Planning Commission (APC) announces the recent designation of opportunity zones, by Governor John Bel Edwards, throughout the Acadiana region.
Stemming from the "Investing in Opportunity Act", a $7.7 billion bipartisan bill aimed at strengthening economically depressed areas across the United States, opportunity zones offer deferred capital gains taxes and significant tax incentives to those who invest in low-income communities.
"The process for an area being selected as an opportunity zone was highly competitive," said APC CEO, Monique Boulet. "With only 25% of Louisiana’s eligible census tracts able to be designated by Gov. Edwards, APC is grateful to have received a designation for each of its requested areas in each parish of our planning district."
Coordinating the efforts on recommendations for opportunity zones in the Acadiana region, APC focused on census tracts that were centered along the downtown areas of the region’s municipalities to promote downtown revitalization. Area downtown revitalization is also a critical goal of the Acadiana region’s Comprehensive Economic Development Strategy which was adopted in 2017 as part of APC’s designation by the Economic Development Administration.
"Given the right investments, there is so much that rural parishes like Evangeline, and others across the state, have to offer. This designation presents an opportunity to cultivate economic development and showcase who we are as a parish; not just within the confines of our parish border, but potentially throughout this region and state," said Evangeline Parish Secretary-Treasurer Donald Bergeron.
Opportunity zones for Acadiana include the following areas:
Acadia Parish Census Tract 9601 (Church Point)
Evangeline Parish Census Tract 9505 (Ville Platte)
Evangeline Parish Census Tract 9506 (Ville Platte)
Iberia Parish Census Tract 0305 (New Iberia)
Iberia Parish Census Tract 0309 (New Iberia)
Iberia Parish Census Tract 0310 (New Iberia)
Iberia Parish Census Tract 0311 (New Iberia)
Lafayette Parish Census Tract 0001 (Lafayette)
Lafayette Parish Census Tract 0008 (Lafayette)
Lafayette Parish Census Tract 0007 (Lafayette)
Lafayette Parish Census Tract 0009 (Lafayette)
Lafayette Parish Census Tract 0010 (Lafayette)
Lafayette Parish Census Tract 0011 (Lafayette)
Lafayette Parish Census Tract 0022 (Lafayette)
St. Landry Parish Census Tract 9611 (Opelousas)
St. Landry Parish Census Tract 9613 (Opelousas)
St. Landry Parish Census Tract 9614 (Opelousas)
St. Landry Parish Census Tract 9616 (Opelousas)
St. Martin Parish Census Tract 0205.01(Breaux Bridge)
Vermilion Parish Census Tract 9507(Abbeville)
Once the recommended opportunity zones are confirmed by the U.S. Department of Treasury, the Treasury will release guidelines for opportunity funding for private investors to invest in the designated opportunity zones. Long-term, APC will be working with communities to allow local investors to invest back into opportunity zones throughout Acadiana.
To see a complete list of opportunity zones across the state, visit www.opportunitylouisiana.com.
The Acadiana Planning Commission (APC) serves the public sector through planning and implementation of Community, Economic, and Transportation Development throughout the Acadiana region.