U.S. Rep. Jimmy Panetta Secures Federal Opportunity Zone Status for Boulder Creek to Spur Economic Recovery
Boulder Creek, California, has been granted a federal Opportunity Zone designation, a move championed by U.S. Rep. Jimmy Panetta. This designation, confirmed by the U.S. Department of the Treasury based on California's recommendations, aims to attract private investment to economically distressed communities through federal tax incentives. The new status will take effect on January 1, 2027, and remain active for a decade. According to U.S. Rep. Jimmy Panetta, this initiative is crucial for Boulder Creek, which has faced significant economic hardship, particularly following the CZU Lightning Complex fires. The program is designed to revitalize downtown areas, foster local business growth, create jobs, and support forest health initiatives. Fifth District Supervisor Monica Martinez also emphasized the community's resilience and the importance of this new tool for attracting investment and ensuring long-term prosperity. The County of Santa Cruz played a role in recommending local census tracts for this design...