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Opportunity Zone

Opportunity Zones were enacted as part of the 2017 tax reform package (Tax Cuts and Jobs Act) to address uneven economic recovery and persistent lack of growth that have left many communities across the country behind. In the broadest sense, the newly enacted federal Opportunity Zone (OZ) program provides a federal tax incentive for investors to invest in low-income urban and rural communities through favorable treatment of reinvested capital gains and forgiveness of tax on new capital gains.  In Colorado, Opportunity Zones may help address a number of challenges:

  • Promoting economic vitality in parts of the state that have not shared in the general prosperity over the past few years
  • Funding the development of workforce and affordable housing in areas with escalating prices and inventory shortages
  • Funding new infrastructure to support population and economic growth
  • Investing in startup businesses that have potential for rapid increases in scale and the ability to “export” outside the state of Colorado
  • Upgrading the capability of existing underutilized assets through capital improvement investments

This economic and community development tax incentive program provides a new impetus for private investors to support distressed communities through private equity investments in businesses and real estate ventures. The incentive is deferral, reduction and potential elimination of certain federal capital gains taxes. U.S. investors currently hold trillions of dollars in unrealized capital gains  in stocks and mutual funds alone— this is a significant untapped resource for economic development. Opportunity Funds provide investors the chance to put that money to work rebuilding the nation’s distressed communities. The fund model will enable a broad array of private equity fund managers and investors to pool their resources, increasing the scale of investments going to under-served areas.

Explore Longmont's Opportunity Zone

Use the map below to explore Longmont’s opportunity zone. You can search specific addresses in the search bar.

Want to Learn More?

Contact Jessica Erickson, President/CEO of Longmont Economic Development Partnership, at jessica@longmont.org to learn more about the opportunity zones in Longmont, Colorado.

Chart showing NextLight having the fastest ISPs in the United States in 2018
Map of the United States showing corporate income tax percentages in each state
Chart showing average electric rate in Longmont lower than Colorado overall and neighboring utilities
Price to income ratio chart showing Longmont's income ratio starting below 3 and rising to almost 5 between 2012 and 2018

Rigid Bits

“Longmont has been my home off and on since I moved to Colorado more than 12 years ago. I fell in love with the community and in 2015 decided to make it my permanent home. Because of the strong ties with the community, there was no question when I founded Rigid Bits in 2017 that it is where we would set our roots down. As an added bonus, NextLight is the fastest internet service provider in the country, which is a great fit for us.

Rigid Bits provides cybersecurity services to businesses nationwide, providing valuable insight to prevent attacks and respond immediately to cybersecurity events. Since 2017, we have supported 70 businesses across 17 states and a variety of industries. We have experienced 300% year-over-year growth with no signs of slowing down. Our plans are to continue to expand Rigid Bits’ services to support businesses in all industries with their cybersecurity needs, changing the way we work as the industry and threats change. As our growth continues, we will bring on new employees and just last month moved into larger office space in Longmont in preparation for our future”.

– Jeff Oden, Founder