Our Opportunity Zone
What is the Opportunity Zone Program?
The Opportunity Zone Program is a federal program connected to the Tax Cuts and Jobs Act of 2017. It is designed to spur community investment by providing tax benefits to investors who hold their investment between five to ten years. The benefits on investments made in Kentland will take the form of new industries taking root, jobs being created and more families taking up residence in the town.
Federal Tax Advantages
The Tax Cuts and Jobs Act of 2017
Enables tax incentivized investment of realized capital gains, into designated Opportunity Zones.
Under Seven Years
Original capital gains taxes invested in QOF is deferred until sold.
Seven Years or More
Original deferred capital gains in the QOF is reduced by 10%.
Ten+ Years
10% reduction in the original capital gains investment; no capital gains taxes on the appreciated value of the investment.
Period of Investment
Maintains 5 years or greater but less than 10
Deferred payment on original capital gains through 12/31/2026 or when investment is sold, if prior to 12/31/2026. 10% decrease in capital gains tax owed on original investment.
Period of Investment
Maintains 10 years or greater
Deferred payment on original capital gains through 12/31/2026 or when investment is sold or exchanged. Exempt from capital gains tax on future capital gains (appreciation) while invested in the QOF.
Opportunity
Zone
Projects
Our journey of building a prospectus began when our county was selected to take part in a new program titled the Rural Opportunity Zones Initiative (ROZI).
The program was a collaboration between two distinct groups: the Purdue Center for Regional Development (PCRD) and the Indiana Office of Community and Rural Affairs (OCRA). ROZI was going to invest in six counties, offering their expertise, technical assistance and capacity-building support for the purpose of developing and implementing a sound investment prospectus. The prospectus is a calling card, inviting any and all who are interested to invest in the projects our community has deemed invaluable. The program is powered by a grant that was recently awarded to PCRD by USDA Rural Development.
Learning that our town was located in one of the six counties, we knew we couldn’t pass up this opportunity to create a prospectus. We gathered a leadership team and started to identify key investment projects that would benefit our future. From here, we formed an Opportunity Zone Task Force and hosted a focus group consisting of longtime residents spanning young and old. If we were going to pursue great economic change in Kentland, we needed the community’s support and input to move forward. To our joy, the information that was gathered at the focus group proved to be crucial in the development of our prospectus with ROZI’s assistance.
The Task Force met with ROZI and drafted two initial projects that were both suitable to Kentland’s Opportunity Zone and highlighted the community’s interest. These projects included an intergenerational wellness center, which would feature separate buildings for childcare, health services and senior living, as well as a walking path, green space and a playground for children. It also clarified new business development opportunities we could pursue to add even more life to our town.
Simultaneously, during all of this, we had also entered into a partnership with a creative agency that would help us dial in our town’s brand identity. We felt establishing a strong look and feel that was consistent with our core values would help us tell our economic development aspirations. Once we had all forged the basis of a strong prospectus, we gathered the town together for a community presentation and unveiled our town’s new brand, and the Opportunity Zone projects we were aiming to accomplish. We also threw a community picnic to celebrate our bold move forward into our future.
Mike Davis
Opportunity Zone Task Force Director
Phone
(219) 869-1156
Task Force
Our Prospectus
Rural OZ and Recovery Playbook
Kentland was featured in a national publication. Read it now!
Our journey of building a prospectus began when our county was selected to take part in a new program titled the Rural Opportunity Zones Initiative (ROZI).
The program was a collaboration between two distinct groups: the Purdue Center for Regional Development (PCRD) and the Indiana Office of Community and Rural Affairs (OCRA). ROZI was going to invest in six counties, offering their expertise, technical assistance and capacity-building support for the purpose of developing and implementing a sound investment prospectus. The prospectus is a calling card, inviting any and all who are interested to invest in the projects our community has deemed invaluable. The program is powered by a grant that was recently awarded to PCRD by USDA Rural Development.
Learning that our town was located in one of the six counties, we knew we couldn’t pass up this opportunity to create a prospectus. We gathered a leadership team and started to identify key investment projects that would benefit our future. From here, we formed an Economic Development Task Force and hosted a focus group consisting of longtime residents spanning young and old. If we were going pursue great economic change in Kentland, we needed the community’s support and input to move forward. To our joy, the information that was gathered at the focus group proved to be crucial in the development of our prospectus with ROZI’s assistance.
The Task Force met with ROZI and drafted two initial projects that were both suitable to Kentland’s Opportunity Zone and highlighted the community’s interest. These projects included an intergenerational wellness center, which would feature separate buildings for childcare, health services and senior living, as well as a walking path, green space and a playground for children. It also clarified new business development opportunities we could pursue to add even more life to our town.
Simultaneously, during all of this, we had also entered into a partnership with a creative agency that would help us dial in our town’s brand identity. We felt establishing a strong look and feel that was consistent with our core values would help us tell our economic development aspirations. Once we had all forged the basis of a strong prospectus, we gathered the town together for a community presentation and unveiled our town’s new brand, and the Opportunity Zone projects we were aiming to accomplish. We also threw a community picnic to celebrate our bold move forward into our future.
Mike Davis
Opportunity Zone Task Force Director
Phone
(219) 869-1156
Task Force
Our Prospectus
Rural OZ and Recovery Playbook
Kentland was featured in a national publication. Read it now!
Our Strategic Priorities
Thrive Intergenerational Wellness Campus
Creating a central gathering place for all.
Housing & Real Estate Development
Building opportunities for new life in town.
Kentland Thrive
Community Fund
Meeting new challenges and investing in the future.
Broadband
Charging up the speed of business and communication.
Business Development
Inviting industries to call Kentland home.
Priority 1
Thrive
Overview
Opportunity Zone
Thrive Intergenerational Wellness Campus
Thrive Intergenerational Wellness Campus is our bold step forward in enriching the lives of our residents and the county through sensory experiences. This estimated 4.5 million dollar investment would be a three-phase project consisting of a Senior Living Facility, a Childcare Center and Wellness Complex.
Creating an intergenerational campus is all about bringing people together. Thrive would enhance the town’s nearby assets, including the pool, basketball courts, ball diamonds and community center. Its program of activities would be located on a single property with a shared green space that would allow for natural interactions throughout the day between children and seniors. Seniors would have easy access to our grocery store, pharmacy, restaurants and shops. Additionally, Thrive would include a Wellness Center. This means a licensed, on-campus, nurse practitioner would be available during regular business hours. All care received in the Wellness Center would be nurse-directed and based on physician-approved clinical protocols. To make communication as fast and simple as possible, all physicians could be reached through a tele-health system. Altogether, the project could generate upward to 30 new jobs within the community.
Job Creation
Phase 1
Senior Living
The proposed Thrive Senior Living Center would be a privately funded, private pay facility comprised of 28 units with the potential for expansion wired into its design.
This is not to be confused with a nursing home. Rather, this is an independent living experience for members of your family, where you can rest knowing that they’re safe and close by. Thrive would create new jobs in the areas of administration, programming, landscaping, and more. Seniors would have the opportunity to not only interact with children through music, arts, or crafts but also pass on their knowledge to the next generation.
Connective Park System
Partnering with the Indiana Housing & Community Development Authority (IHCDA) on two separate occasions, we raised upward to $350,000 to establish two brand new park experiences.
We’re a bold town on a mission: to continually enhance the quality of life for our residents today and tomorrow. During our campaign with the Jasper Newton Foundation, we garnered support from residents and friends from afar to revitalize Batton Park. A few short months later, we launched a second campaign through a partnership with the Newton County Historical Society to establish a park South of US 24 on the corner of Fourth and Allen. Together, with our already-existing Cast Park, we’re looking to create a connected experience in Kentland through the development of pathways between each park. This feature will not only complement the proposed Thrive campus but also provide even more opportunities for relationships to flourish. Both Batton and Wonder Park will be completed by Spring of 2022.
Batton Park Features
The newly-renovated Batton park complements the proposed Thrive Intergenerational Wellness Campus. The park includes many features like different swings, a play structure, and a music concerto.
Wonder Park Features
This newly added park is located on the corner of Fourth and Allen, providing a safe travel location for residents south of US 24. The Wonder Park has many features, including a climbing structure, slides and a roof for sun protection.
Cast Park Features
Located near the Pennsylvania Railroad Depot, Cast Park features a catch & release fishing pond and fantastic walking path. It is equipped with a large shelter area, and perfect for family parties, celebrations or resting after a run in the sun.
Phase 2
Childcare Center
We’re proposing a licensed Child Care Center with a structured curriculum. This includes a fun time outside at the updated, on-site Batton Park.
It would feature five classrooms: Newborn, 1 year old, 2 year old, 3 year old, and preschool. Designated to each classroom would be a lead teacher and one or two teachers aides. A Center Director would oversee all operations, and there would also be kitchen and custodial staff.
Wellness Center
Multiple areas of focus for the Wellness Center are being evaluated, including but not limited to: Urgent Care, Primary Care, Speech Therapy, Occupational Therapy, Physical Therapy, Mental Health, and Nutrition.
Extensive research is being conducted into the possibilities of how this proposed center will positively impact our town and the Newton County area.
Priorities 2, 3 & 4
Housing & Real Estate Development
As Kentland continues its journey of development, the need for real estate becomes all the more essential in order to build new homes and house a growing workforce. This is our newest and most important priority for the long-term success of Kentland.
Thrive
Community Fund
Through the establishment of a private, Kentland-based endowment fund, we will be able to help people leave a legacy for their families. The fund could also be utilized to support new businesses and business development opportunities.
Broadband
Internet
Broadband broadens Kentland’s scope for opportunities. With it, it will attract more investors and businesses within our industries of focus, inviting them to make Kentland their base of operations. Access to more information through higher-speed internet means accomplishing and earning more.
Priority 5
Business
Development
We’re Placing an Emphasis on Four Industries.
We want to see new companies plant themselves in our soil. In our conversations with residents and among our Task Force, we were able to identify four key areas of industry that Kentland is perfectly poised to meet the needs of: Manufacturing, Warehousing and Logistics, Solar, and Agribusiness. To complement these traditional opportunities, we are looking to support and develop small business and creative start-up businesses. For more information, please call our Opportunity Zone Task Force Director, Mike Davis.
Manufacturing
American-based processing, fabrication, assembly, and disassembly— we invite manufacturers of all kinds to ground themselves here with us. We already possess a strong manufacturing presence and have the talent to support the industry and your company.
Warehousing & Logistics
With a host of facilities and ideal locations, Kentland is a perfect match for your warehousing or logistics business. It’s a short distance from significant retail locations via major roadways, rail lines, and aircraft carriers. Whether it’s refrigerated goods, general merchandise, or other materials you’re needing to keep secure or move, Kentland invites you to make it the base of your operations.
Agribusiness
Kentland has some of the most fertile land in the world. Your business is presented with boundless opportunity, with acre after acre of rich soil stretching far into the horizon. If you’re searching for a place to build your agribusiness, Kentland is your home. You just don’t know it yet!
Solar
Being located in the heart of the Midwest, Kentland is a wonderful location for your solar energy company. A quiet technology powering the town’s economy through inexpensive, clean, and renewable energy is precisely what Kentland invites to be rooted in its community.
Small Business
Start-Ups
Within the last six months alone, multiple entrepreneurs decided to launch their businesses in our community.
Needless to say, their decision to do so was during one of the most turbulent times in our country’s recent history. This says volumes about their confidence in our small community’s support system. To name just a few, these new businesses include Just Dance Studio, Downtown Lounge & Trattoria, and JP Style Co.
Community Developments: A Brand New Firehouse, A New Bank, a Major Airport Update, and Our Newest Mural
This is just the beginning of more great projects to come.
New Kentland Firehouse
The Kentland-Jefferson Township Volunteer Fire Department has a roster of 22 firefighters. These individuals give above and beyond, having employment throughout the community and surrounding area.
Serving the Town of Kentland and Jefferson Township, our firefighters run rescues and take responder calls. They’re highly trained in emergency procedures, which helps ensure that they make it back home safely after a day of fighting fires, running rescues, and taking responder calls. Our new fire station project has had countless support and funding over the past six years and is nearing the completion of its construction. This new station will be centrally located, improving our overall response time and helping meet the community’s needs. It is equipped with ample parking and brand new offices. We’ve also replaced the old back-in bays with drive-through bays to help prevent injuries to our firefighters.
Kentland Airport
Servicing three counties, our airport plays a crucial role in business, training, currency, and recreation. We currently have six buildings containing 17 hangars, as well as a maintenance shop. You can find planes flying in and out of here on a daily basis, from smaller charters like a Beechcraft Baron 58 to a larger capacity aircraft like a Citation CJ1.
In the past 10 years, we’ve invested 4.5 million dollars into our airport. 90% of this number came from the Federal Aviation Administration, 5% from the State of Indiana, and the balance from the Town of Kentland. We’ve done everything from adding permanent fuel farms to widening, lengthening, and resurfacing our runways. We’ve also upgraded our fuel terminal technology and have added a weather reporting station. Whether we’re managing agriculture, visiting investments, flying parts in and out to satisfy commitments, or seeking medical treatment, our airport is an essential asset that we’re consistently seeking to improve. This being said, we’re well underway with another airport update, adding a 1.4 million gallon retention pond, as well as a new taxi area, new terminal, and new hangars. Normally, the FAA would cover its 90%, the State with its 5%, and the town with our 5%, but due to recent legislation that allows the FAA to fund the town’s portion of the bill, we are receiving these additions to our airport at no cost.
Kentland Bank
On June 17th, the Kentland Bank broke ground to mark the beginning of a new construction project and is now nearing completion.
This 5,000 sq-ft building has a modern design with new technological features, including a teller pod system, and will offer up an even greater working environment for its employees.
Mural
A new mural was painted on the side of the Newton County Historical Society by Rensselaer-based Rein Bontreger of Reinforcements Design.
This new art piece spans the full length of the building and it showcases the best of Newton County through its key figures, unique locations, and historical events.
Opportunity Zone
Statistical Snapshot
Opportunity Zone
Statistical Snapshot
Opportunity Zone Highlights
Kentland is the largest town located within the Opportunity Zone. To gain a more comprehensive understanding of our area, we’ve gathered statistical data that covers a wide swath of information, beginning with the Opportunity Zone, then slowly broadening the scope to include Newton County and finally the State of Indiana.
20 Years
The population within the OZ has hovered around 2,400 people for more than two decades
1,748
As the County Seat, the Town of Kentland’s population is 1,748 people
1,120 jobs
The Total Employment in Kentland as of 2017
17%
Employed in Manufacturing
17%
Employed in Trades, Transportation, & Utilities
8%
Employed in Agriculture
44%
Of adults 25+ years old have some college, associate’s bachelor’s degrees or more
OZ Population
OZ Employment
Population by Occupation
Newton County
Statistical Snapshot
Newton County
Statistical Snapshot
Small Town Population
14,011 residents in 2018
Generational Mix
Residents from the Silent Generation & Baby Boomers to Millennials & Gen Zs.
Educated Community
20% with Associate’s, Bachelors or Graduate Degrees
21.5% with some College
Active Workforce
Labor participation rate of 86% in 2017
Small Business Presence
68% of businesses employ 2-9 people
53% of jobs are with Stage 2 firms
(10-99 employees)
Housing Tenure
73% of housing is owner-occupied
Low Cost of Living
7% lower on the Cost of Living index than the U.S. as a whole
Real Median Income
$53,060 in 2018
Engaged Community Foundation
Nearly $225,000 invested in local organizations & agencies in 2018-19
State of Indiana
Statistical Snapshot
State of Indiana
Statistical Snapshot
Cost of Doing Business
NBC America’s top states for business, 2019
Bond Rating
Standard & Poor’s, 2020
State Infrastructure
CNBC State Infrastructure Ranking, 2019
Michigan – 33rd
Illinois – 16th
Kentucky – 2nd
Ohio – 4th
Best Long Term Fiscal Stability
US News & World Report, 2018
Michigan – 26th
Kentucky – 47th
Ohio – 40th
Illinois – 50th
Indiana’s Workers’ Comp Premium Rate Ranking
US News & World Report, 2018
Michigan – 15th
Ohio – 16th
Kentucky – 19th
Illinois – 30th
Total Population
6.5 Million
Median Household Income
$52,182
% With a Bachelor’s Degree or greater
% With a Highschool Degree or greater
% Without a Highschool Degree or greater
(ages 18-24)
% Under 18
% Over 65
Unemployment
(age 16 or older)