DRA Announces $127,877 Investment to Support Opportunity Zones in Alabama Black BeltAugust 13, 2019
DRA’s investment will prioritize rural revitalization and business development in Alabama Black Belt Opportunity Zones
CLARKSDALE, MS – Today, the Delta Regional Authority (DRA) announced a $127,877 investment to support Opportunity Zones (OZ) in rural communities across the Alabama Black Belt. Opportunity Alabama, a non-profit organization dedicated to connecting capital to catalytic investment opportunities across the state, will lead the initiative in collaboration with public and private partners. This investment will allow Opportunity Alabama to host regional strategy development events, create eligible project pipelines, design community fact sheets, and develop four regional investment prospectuses to help promote the Black Belt’s designated OZ areas to qualified funds.
“As a member of the White House Opportunity and Revitalization Council, I am pleased to support Opportunity Alabama’s new initiative to support Opportunity Zones in the Black Belt,” said DRA Federal Co-Chairman Chris Caldwell. “DRA’s investment will help the Delta region attract qualified fund managers and unlock private capital that will stimulate economic development and promote sustainable growth in underserved communities.”
“As governor, and a product of the Black Belt, I want to see this part of our state achieve success. I am proud that the Delta Regional Authority recognizes the importance of growing rural Alabama, and that is evident through this important grant,” Governor Kay Ivey said. “We are only truly successful when we are successful together.”
Funding for this project was provided by the States’ Economic Development Assistance Program, DRA’s flagship grant program that makes strategic investments into projects supporting basic public infrastructure, transportation improvements, workforce training and education, and business development with an emphasis on entrepreneurship.
About the Delta Regional Authority
Established in 2000 by Congress, the Delta Regional Authority makes strategic investments of federal appropriations into the physical and human infrastructure of Delta communities. Led by the Delta Regional Authority Board-comprised of the Federal Co-Chairman, appointed by the President and confirmed by the U.S. Senate, and the governors of the eight states-the Delta Regional Authority fosters local and regional partnerships that address economic and social challenges to ultimately strengthen the Delta economy and the quality of life for Delta residents. The Delta Regional Authority works to improve regional economic opportunity by helping to create jobs, build communities, and improve the lives of the 10 million people who reside in the 252 counties and parishes of the eight-state Delta region.
DRA Media Contact: Susan Edwards
DRA Program Contact: Kemp Morgan