MANATEE COUNTY, Fla. -- A new government program, called "Opportunity Zones," is expected to bring jobs to low-income areas in the Bay area.
- New government program to bring jobs to low-income areas
- Opportunity Zones coming to Bay area counties
- Manatee, Hillsborough, Pinellas, Polk, and Pasco
Samoset is one of six locations in Manatee County chosen for the opportunity zones.
"It's an opportunity to work with the community to determine what types of businesses are needed, what types of infrastructure is needed, and what kind of jobs are wanted," Karen Stewart, one of the people overseeing the project, said.
The idea is to incentivize business owners to bring business into these underserved areas. The arrangement saves the business owners money while creating jobs in the community.
"Once they make their investment, there capital gains is shielded from taxes," Stewart said.
The opportunity zones are not only coming to Manatee County, but will be coming to Hillsborough, Pinellas, Polk, and Pasco Counties.
"These are just areas of concentrated poverty, of less business development in where we want to increase that. We want to have jobs for everyone and we want to have good business for everyone," Stewart said.
In total, 427 communities were chosen across the state. Those areas are expected to see growth within the next year.