Tennessee is Full of Opportunity . . . Zones.
written by: Eli York
~3-4 minute read
New Opportunity Zones and what that could mean for Middle Tennessee.
The Tennessee Department of Economic & Community Development is currently taking nominations for the 2027 mapping of Opportunity Zones. First declared in 2018, Tennessee currently has 176 designated Opportunity Zones, with many zones located in the Middle Tennessee area. So far, there are 507 areas in Tennessee that have been declared eligible for the Opportunity Zone designation. However, only 127 of those areas will actually be nominated as an Opportunity Zone.
Like me, you may be wondering what exactly does an Opportunity Zone designation mean? And what exactly are these zones? Opportunity Zones, as described in The Beginners Guide To OZs:
an OZ (Opportunity Zone) is an area that would benefit from long-term investment. These are areas that face continual economic hardship as defined by census tracts through statistics like poverty and income rates.
Opportunity Zones are often defined by county lines/city limits and the populations within them, and designations help these economically distressed areas build strength through long-term investments.
States work to ensure this through a 10 year investment obligation, verifying that these counties will get lasting economic help. The Beginners Guide To OZs explains that these investments can be flexible and are typically dependent on the specific areas needs. This can look like anything from housing opportunities to full-fledged metropolitan projects.
With many Middle Tennessee counties like Davidson, Rutherford, and Wilson having eligible areas for an Opportunity Zone designation, what could this mean for the future of public transportation in Middle TN? Well, this creates a city and county wide opportunity for continued investment and support in our transit system. With the assurance of at least 10 years of investment and support, this allows us to tackle larger issues of infrastructure and continued funding.
With the assured funding, we can continue to support the infrastructure and up-keep of these systems, guaranteeing a working mode of public transportation in these areas. Funding public transportation creates city-wide accessibility and convenience that many individuals in Opportunity Zones are searching for. Public transportation provides large groups of people with affordable and often time-efficient modes of transportation that cut down on personal costs in a variety of ways.
Public transportation in Opportunity Zones, specifically, can be extra helpful. As defined above, OZ areas often face economic distress, and public transportation makes it easier to access jobs, larger cities, school, and other community resources. Long-term support of public transportation makes economic opportunities more accessible, reliable, and sustainable. Accessibility on this scale helps boost economic opportunities for both the individual and community who uses public transportation.
So, as Tennesseans, what can we do and how can we share our input?
The IRS (Internal Revenue Service) states that areas can only be nominated as an Opportunity Zone by their local governors. And, the areas nominated must be eligible for nomination according to census information. For this year's nominations make your voice heard by reaching out to local politicians and representatives. You can also share your opinion with Tennessee's governor, Bill Lee, through this online form.
In the future, continue to fill out census forms and make your voice heard. Together, we can build-up Tennessee and its public transportation system!
