The City of Opelika, the Opelika Economic Development Department and the Opelika Industrial Development Authority are excited to announce the creation of the Opelika Innovation and Technology Park (OITP). The new park is located in an Opportunity Zone (OZ) at the gateway corridor to Opelika along U.S. Highway 280 West between Veterans Parkway and Waverly Parkway.
Opportunity Zones are an important component for industries wishing to move to an area. OZ sites offer industries cheaper build-to-suit leasing, stronger federal, state and local incentives, access growth capital and unique tax planning opportunities. In Alabama, Governor Kay Ivey has designated 158 Opportunity Zones across the state.
“Opelika has been incredibly proactive about harnessing the power of its Opportunity Zone. Its vision for building a place where innovation and technology can co-exist matches perfectly with the spirit of the Opportunity Zone incentive, which facilitates investment in both buildings and the companies that occupy them,” said Alexander Flachsbart, Found and CEO of Opportunity Alabama.
The new park sits on 105 total acres and is ideally located in Opelika with easy access to East Alabama Medical Center, Tiger Town, Historic Downtown Opelika, Southern Union State Community College and Auburn University. Great utility infrastructure already exists in the new Opelika Innovation and Technology Park from partners such as: Opelika Power Services, Opelika Utilities, Spire Gas and GIG Fiber from Point Broadband.
“The OITP will be a catalyst to help generate, attract and retain companies focused on the creation of new and innovative technologies. OITP will not only be a place for the creation of great jobs, but will be a place that will provide connectivity to drive growth in our city and throughout the region,” said Mayor Gary Fuller.
Opelika Economic Development is already working on a potential project for the OITP.
For more information, please contact John Sweatman, Economic Development Project Manager for the City of Opelika, at 334-705-5115.