Congressman Emanuel Cleaver, II announced recently the City of Marshall was chosen for a program designed to help companies and businesses invest in development opportunities in the area.
According to a news release, on Tuesday, April 10, Marshall was chosen as an “Opportunity Zone” which is a program designed to drive long-term capital to rural and low-income communities throughout the state by using tax incentives to encourage private investment.
The Opportunity Zone designation requires a low-income census tract which are places with an individual poverty rate of at least 20 percent and median family income no greater than 80 percent of the area median.
The Missouri Department of Economic Development receives applications from state officials for communities within their district which are eligible for the program. Congressman Cleaver submitted applications for several areas within his district, including the City of Marshall.