City of Salem, MA

02/14/2020 | Press release | Distributed by Public on 02/14/2020 18:12

Salem Joins Smart Growth America’s National Opportunity Zones Marketplace

The City of Salem is pleased to be part of Smart Growth America's new National Opportunity Zones Marketplace, an online tool designed to equip local governments, real estate developers and investors, and community leaders to work together to make smart, equitable growth possible in Opportunity Zones and beyond.

Designed to serve Salem and the 12 other communities across the country that are participating in Smart Growth America and LOCUS' National Opportunity Zones Academy, supported by the Rockefeller Foundation and the Barr Foundation, this new Marketplace is designed to allow these local governments to post details about shovel-ready projects for those looking for equitable development opportunities and to communicate about Opportunity Zone questions, comments, prospects, and needs.

The City of Salem believes that the new Opportunity Zones tax incentive is best used carefully and deliberately in order to benefit, not displace, people and create walkable, mixed-use communities with a variety of employment and housing options for everyone.

'We are so excited to be a part of this ongoing discussion about how to use our two designated Opportunity Zones to help guide growth that is desirable, equitable, and an economic driver,' said Mayor Kim Driscoll. 'Our partnership with LOCUS and Smart Growth America has opened the door to new opportunities that otherwise would not have been available. By participating in the National Opportunity Zones Marketplace, we can work directly with businesses, property owners, investors, and developers, share Salem's aspirations, and collaborate on projects that seek to accomplish these goals.'

The Marketplace is a transparent, national hub where social impact investors from across the country can look for potential projects. Through the Marketplace, they can partner with cities to invest in equitable development in ways that help communities meet their goals for affordable housing, economic development, and more.

This new Marketplace is one part of Smart Growth America's National Opportunity Zones Academy, an 18-month technical assistance and peer learning effort that helps cities and towns create place-based, community-led approaches to sustainable growth and develop strategies to transform selected Opportunity Zones into economically-thriving and socially-inclusive places.

View the Marketplace and create a profile to follow along at https://oppsites.com/sgamarketplace.

Click here to listen to an audio version of this announcement.