Valparaiso Opportunity Zone

Where is Valparaiso's Opportunity Zone?

Valparaiso’s Opportunity Zone, or "OZone", is outlined in purple in the map below. The OZone has the same parameters as Census Tract 509, and is situated between US 30 and the south side of Lincolnway. 

Click the picture below for an enlarged image of Census Tract 509 , or visit policymap.com/maps

Valpo Opportunity Zone Jan 2019 Opens in new window

How was the Opportunity Zone identified?

The federal government established the Opportunity Zone program in the 2017 Tax Cuts and Jobs Act to attract private sector investment to low-income urban and rural communities. To capitalize on this initiative, Valparaiso city staff submitted an application for the eligible low-income Census Tract 509 to Governor Holcomb, who then nominated this Census Tract to the U.S. Secretary of the Treasury for OZone designation. Valparaiso's OZone was the only designation awarded in Porter County, and was one of 156 to be designated in the State of Indiana. 

What is the benefit of an Opportunity Zone?

The core benefit of this tool is the deferral or reduction of federal taxes on capital gains, if gains are used as investments within an Opportunity Zone. Investors can also place capital gains into a Qualified Opportunity Fund (QOF): an investment vehicle that is organized as a partnership or a corporation for the purpose of investing in OZone property. Federal tax benefits differ for investors depending on the length of time an investment is held within an OZone, with extended benefits offered for investments held for longer periods of time in the OZone (see graphic below). This method was designed to encourage long-term investment in low-income areas. 

OZone Capital Gains Reduction, Deferral

From the Columbia, SC Opportunity Zone Prospectus

Where can I learn more about Opportunity Zones?

You can find all of Indiana’s OZones at the following website. Additional information can be found on the Indiana Economic Development Corporation (IEDC)’s website, and Prosperity Indiana's Opportunity Zone website. We also encourage you to contact the Valparaiso Economic Development Department for more specific information regarding Valparaiso's Opportunity Zone. 

Contact Information

 Lauren Orchard, Assistant Director of Economic Development, lorchard@valpo.us, 219-548-4808