TPMA’s WORK ON OPPORTUNITY ZONES
TPMA has been engaged with Opportunity Zones since its inception of the 2017 Tax Cuts & Jobs Act and has worked with local governments, cities, towns, and regions to assess and implement Opportunity Zone development strategies. We have worked in states such as Indiana, South Carolina, Kentucky, and Idaho. We have developed implementation strategies for over twenty Opportunity Zones that include a range of residential, commercial, and industrial projects. In total, TPMA has identified over $1 Billion in investment opportunities throughout the United States.
TPMA worked with the Jackson County Industrial Development Corporation (JCIDC) to create a prospectus that highlights a diverse mix of development opportunities in the City of Seymour, IN. Seymour’s Opportunity Zone was enhanced by the building of a road extension connecting major thoroughfares and providing access to several hundred acres of land for industrial and multi-family residential development.
City of Aiken, SC
The City of Aiken, SC is celebrated for its downtown, main street, and culture. TPMA worked with the City to create a prospectus that highlights these amenities and identifies projects promoting inclusive development within Aiken’s Opportunity Zone. Projects highlight impactful residential, commercial, and mixed-use development opportunities.
City of Paducah, KY
The City of Paducah, KY is located along the banks of the Ohio River and is known for a rich culture anchored by artists, craft persons, performing artists, and writers. The city’s prospectus reflects culturally focused projects including a historic theatre. Other projects identify residential, commercial, and mixed-use development and redevelopment opportunities that build on growth occurring downtown and in nearby neighborhoods.
The City of Elkhart, IN is the RV manufacturing capital of the world and has a history defined by entrepreneurship and manufacturing. The city prioritizes economic development, evident in the implementation of a riverfront masterplan which has led to the development of complete streets, new multi-family housing overlooking the St. Joseph River, and an Aquatics Center. The city’s prospectus identifies industrial, commercial, residential, and mixed-use development opportunities in the city’s three Opportunity Zones, building on Elkhart’s positive economic growth.
City of Richmond, IN
TPMA worked with the City of Richmond, the Wayne County Chamber of Commerce, and the Wayne County Economic Development Corporation to build a prospectus highlighting downtown development opportunities. The City and its partners are actively investing in projects that promote walkability and infrastructure development in downtown. Projects in Richmond’s prospectus include residential and mixed-use opportunities that will attract residents to the city’s core.
Allendale County, SC
TPMA worked with the Southern Carolina Alliance (SCA) to develop a prospectus for each of the seven counties in its service territory including Allendale County. Allendale has significant need for workforce housing, especially for young professionals and teachers. Allendale’s prospectus identifies affordable housing and community focused mixed-use projects that will address workforce housing demand.
Bamberg County, SC
Bamberg County is part of the SCA region and is positioned for industrial growth. Bamberg’s prospectus has two well-positioned shovel-ready industrial development opportunities including a multi-parcel industrial park and a separate 158-acre site. The county’s prospectus also identifies an opportunity to develop a senior care facility adjacent to a new rural emergency healthcare facility.
Barnwell County, SC
Barnwell County is part of SCA and, like many counties in the region, has a strong industrial manufacturing base. The county’s prospectus highlights development opportunities within the Southern Carolina Advanced Technology park (SCAT), a 1,600-acre advanced manufacturing park that has seen substantial growth over the past decade. The county’s prospectus also identifies workforce and executive housing development opportunities that could be attractive to employees of large industrial businesses in the county and region.
Beaufort County, SC
Beaufort County is a coastal community that includes Hilton Head Island. The county’s Opportunity Zone prospectus was developed as part of TPMA’s work with SCA. The prospectus highlights development opportunities in Beaufort County Commerce Park and Beaufort Town Center. Beaufort Town Center is a planned mixed-use development that has already seen success and could benefit from additional equity development to advance future phases of development.
Colleton County, SC
Colleton County is an SCA member that has competitive advantages in manufacturing. The county’s prospectus highlights shovel ready opportunities in two industrial parks along I-95. The prospectus also highlights a site positioned for single-family residential development and another site at an I-95 exit conducive to mixed-use development.
Hampton County, SC
TPMA completed a prospectus for Hampton County in partnership with SCA. Like other counties in the SCA region, manufacturing is a major component of Hampton County’s local economy. The county’s prospectus highlights two shovel-ready industrial parks, one owned by SCA and the other owned by the county government. The third investment grade project in the prospectus is a logistics terminal redevelopment opportunity with immediate access to I-95.
Jasper County, SC
Jasper County is an SCA member projected to experience significant economic growth in the next 10 to 15 years, as it is located 20 minutes from Savanah Georgia and the Port of Savanah. There are also plans to build the Jasper Ocean Terminal, a deepwater port that will create economic expansion opportunities. This project is expected to be completed in 2035. The county’s prospectus focuses on leveraging future growth and includes phased development of a large industrial and logistics park as well as commercial and mixed-use opportunities that can capture additional traffic along I-95.