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"Economic Opportunity Zone" to help redevelop Ralston's Hinge

Posted at 5:34 PM, Jul 16, 2020
and last updated 2020-07-16 19:11:12-04

RALSTON, Neb. (KMTV) -- — A major redevelopment project in Ralston is getting help from a federal program.

Ralston’s Hinge Project was named an Economic Opportunity Zone in 2019. The program, started by the U.S. Government, allows business owners to get tax incentives if they use money within the area.

There’s also an opportunity zone near Downtown Omaha.

“I See It Ventures” CEO Gordon Whitten says he’s using the program to redevelop the Old Ralston Granary. He says it was no-brainer.

“This right here is in the center of the Ralston Hinge. It’s in the center of the redevelopment area so if we can restore this iconic building and turn it into a revenue generating and profitable facility, it’s also going to be iconic, it’s also going to draw people to us,” Whitten explained.

Ralston hopes to see about $250 million in investment in The Hinge Project for residential, retail, and offices.