Today the City of Mesa announced the launch of the Mesa Opportunity Zone Investment Prospectus located at www.MesaAzOpportunityZones.com. The Prospectus provides important information for potential investors regarding Mesa's Opportunity Zones, namely the Gateway Area, Falcon District, Main Street Corridor, and the Fiesta District; and the key geographic, demographic, infrastructure, and market advantages of Mesa's Zones.
The Opportunity Zone program is a federal program meant to spur investment in low-income areas by providing tax benefits to investors who reinvest capital gains into Opportunity Zones. The tax on the realized gain is deferred and reduced if the investment is held in an Opportunity Fund for five to seven years. Moreover, gains on the Opportunity Fund investment will not be taxed if the investment is held for ten years. Opportunity Funds in turn must have at least 90% of their assets in qualified Opportunity Zone property. The City of Mesa has 11 census tracts that have been designated Opportunity Zones by the U.S. Department of Treasury.
"Our Opportunity Zones provide a boost in returns for private, tax-free investment in low-income areas with economic need," Mayor John Giles said. "Investment in these areas will bring great benefit to our residents and private investors alike."
Mesa's various opportunity zones are well-suited for industrial, office, retail, and residential development projects.
The Gateway Area Opportunity Zone includes industrial and commercial development opportunities proximate to Phoenix-Mesa Gateway Airport, along the burgeoning Ray Road Business Corridor, and in the Pecos Advanced Manufacturing Zone, which also has the unique advantage of a streamlined entitlement process. Furthermore, investors can maximize the property tax incentives for qualified projects locating in Mesa's Foreign Trade Zone and the Military Reuse Zone, also located in the Gateway Area Opportunity Zone.
Anchored by Falcon Field Airport and already home to major operations for Boeing, Northrop Grumman, MD Helicopters, and Nammo Talley, Mesa's Falcon District Opportunity Zone has many additional opportunities for manufacturing, office, retail, and hotel development. The District's targeted industry segments included aerospace, defense, medical technologies, and advanced business services. Located along the Red Mountain Loop 202, the Falcon District is ripe for development and already seeing tremendous new activity.
The Main Street Corridor Opportunity Zone is Mesa's heart for arts, culture, entertainment, government, and education, and will soon be the home of a new Arizona State University facility and innovation studio. The Main Street Corridor hosts a variety of mixed-use, office, restaurant, hotel, and multi-family housing development opportunities.
Already a blossoming employment area, the Fiesta District Opportunity Zone is prime for additional development in mixed-use, restaurant, office, advanced business services, medical technology, and healthcare services. Nearby are campuses for Cardon Children's Medical Center, Banner Desert Medical Center, and Mesa Community College, as well as Santandar, National General Lender Services, and Esurance.
To download or share the City of Mesa's Opportunity Zone Investment Prospectus, visit www.MesaAzOpportunityZones.com. If you would like to invest in one of Mesa's Opportunity Zones, please contact City of Mesa Economic Development Director Bill Jabjiniak at William.Jabjiniak@MesaAz.gov or Marc.Valenzuela@MesaAz.gov.
Contact: Kim Lofgreen