Opportunity Zone and HUB Zone

Opportunity Zone

The 2017 Tax Cuts and Jobs Act created Opportunity Zones as a new federal tax incentive program to spur private investment in distressed communities throughout the United States. A portion of the City of River Falls in Pierce County was one of 120 Opportunity Zone recommendations for Wisconsin. For more information on Opportunity Zones, please visit the U.S. Department of the Treasury Community Development Financial Institutions Fund website. The map for the City’s designated Opportunity Zone Census Tract can be found below.

City of River Falls Opportunity Zone Census Tract

Below is an Opportunity Profile highlighting potential redevelopment sites for future mixed use development and multi-family and student housing located within the City’s Opportunity Zone. 

Housing Opportunities in the River Falls Opportunity Zone

Historically Underutilized Business (HUB) Zone

The federal government limits competition for certain contracts to businesses in historically underutilized business zones. It also gives preferential consideration to those businesses in full and open competition. The federal government’s goal is to award at least three percent of all federal contracting dollars to HUBZone - certified small business each year. To learn more about the HUBZone program, visit the U.S. Small Business Administration website. The map for the City’s designated HUBZone Census Tract can be found below.

City of River Falls Historically Underutilized Business (HUB) Zone