Opportunity zone investments can represent extremely fruitful investment tools for the investor and the respective area. With the help of investments, the areas designated as opportunity zones will start to flourish. More jobs will be created, and the area will become a point of interest for greater crowds. However, to achieve such success, a few strategies will attract more investors to your area.
Promoting the community smartly- Community leaders, such as the staff working at local agencies and governments, should invest quality time into educating themselves on the details of such a program and what it entails. There are many important resources available, such as re “Navigating Opportunity Zones” booklet published by the LISC (Local Initiatives Support Corporation) and the CDFA (Council of Development Finance Agencies). Such a book can help leaders better understand all the principles of Opportunity Zones and learn how to identify different projects in their area for potential investments efficiently.
Connecting with anchor institutions in the area- yet another good idea that would help local government and agency staff attract investors is to work closely with local anchor institutions. These include local hospitals, educational institutions, and so on. These larger institutions already have good investor relationships, which can help build new connections and spread the word about your potential investment projects.
Stay in touch at all times- local leaders should always communicate with different opportunity fund managers and build new connections with investors. By constantly touching the investment level, you will eventually manage to attract good investments in your area.
Attract the interest of the investors by showcasing projects- the majority of the communities gained their success by focusing on one major project to attract the interest of the investors. This type of concentrated strategy can easily lead to great relationships with potential investors because your “model” project can already make proof of good returns.
Opportunity zone investments are extremely important because the respective community cannot grow and flourish without investments. However, to make investors interested in different projects, local leaders need to work on building good relationships.