WENATCHEE – In a recent announcement from Governor Jay Inslee’s office, Wenatchee, South Wenatchee and areas around Malaga and Alcoa have been chosen as an Opportunity Zone.
This means that over 2,300 acres of land can be considered for new investment. Examples include the Wenatchee Valley College’s Center for Entrepreneurship, which has been working with a group of Latino leaders looking to take on a key project, a food truck plaza and incubator space.
Catholic Family Services is developing a $15-million dollar housing project in South Wenatchee and is in need of an additional $1-million dollars in equity funding. Craft3 and the Community Foundation of North Central Washington will now have the ability to bring Opportunity Zone and private foundation funding to projects. The City of Wenatchee partnered with Chelan County and the Port of Chelan County to secure the Opportunity Zone designations.