Kansas Governor Dr. Jeff Colyer took a stroll through downtown Great Bend Wednesday afternoon. Colyer was viewing communities that have been designated as rural opportunity zones.

Opportunity zones are designated by the federal government to identify areas that have economic difficulties and in turn provide investors incentives to invest money in local construction, renovations, and new business.

Jeff Colyer Audio

There were two zones identified, or census tracts, in Great Bend with a rough outline of the two zones encompassing a section between Washington Street and Frey Street and north and south between NW 20 Road and Railroad Avenue. Great Bend was awarded two of the 74 zones in Kansas.

Growing up in Hays, Colyer was familiar with Great Bend’s economic outlook over the years and felt there is currently good energy and a good plan in place to improve its economy.

Jeff Colyer Audio

Investors that build or invest in the designated zones will not have to pay capital gains for 10 years on the federal taxes. Colyer felt this will help get and keep private money in communities like Great Bend.