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Economic development director urges reapplication for opportunity-zone designation before deadline
Summary
Sawyer County Economic Development executive director Brian Priester urged the county and local municipalities to coordinate an application to reapply for opportunity zone designation before the end-of-month deadline; he said three census tracts in the county are eligible, and the process prioritizes areas with workforce housing potential.
Brian Priester, executive director of the Sawyer County Economic Development Corporation, told the committee the county is in a window to reapply for opportunity-zone designation and urged quick coordination among local governments.
Priester said Sawyer County currently has three eligible census tracts: two on tribal land and one covering Hayward (including both Hayward Township and the city). The federal program allows investors to defer capital gains taxes by investing in designated opportunity zones; the county would need municipalities to nominate tracts to the governor, and the governor then forwards a subset of nominations to the federal government. "The deadline for this is the end of this month," Priester said, urging staff to contact clerks in the city and town so the items can be placed on those bodies' agendas.
Priester said the application process favors census tracts where there is opportunity to support workforce housing and suggested the Hayward tract has a compelling case. He also said Sawyer County is designated as a rural enterprise zone, which may provide additional tax incentives for projects.
Why it matters: re-designation could make local projects more attractive to investors and support housing and development projects that create jobs. Priester encouraged local officials to act quickly because municipal agendas and the governor's selection process impose short timelines.
What happens next: committee members were advised to contact city and town clerks to request placement on upcoming agendas; staff said the city and town need to act before their next meeting cycles or wait until August.
