A Lavaca County census tract located mostly in the City of Yoakum gained a tool to encourage long-term private investment after Governor Greg Abbott submitted the state's Opportunity Zone designations to the U.S. Treasury Department. The Opportunity Zone program was created by the 2017 federal Tax Cuts and Jobs Act and will encourage businesses to develop and invest in low-income communities in Texas. The submissions by Governor Abbott to the federal government will attract billions in investment and economic growth to cities across Texas.
“This program will help highlight areas of Texas that are prime for business investment, and it will serve to bring more opportunities to hardworking families across the entire state,” said Governor Abbott.
Mayor Annie Rodriguez petitioned Governor Abbott’s office for the Opportunity Zone designation which was awarded to only 25 percent of eligible low-income census tracts. In all, Texas designated 628 census tracts in 145 counties as Opportunity Zones.