Get in on the Pateros Potential!
Contact Jord Wilson at City Hall about more detailed information behind our Market Guide
PATEROS: EXPLORING PLASTICS
PROJECT: Explore the potential for growing a plastics recycling and manufacturing industry.
PROJECT OVERVIEW: The City is exploring the plastics recycling industry for potential development opportunities. A recycle plastics operation meets the economic goals of city development: capitalizing on available infrastructure; increasing family-wage jobs; and enhancing existing facilities. The Starr Business Development site was the City landfill for about six years, from mid-1980 until early 1987 when it was closed. It consisted of only 2.7 acres of the 16.6 acres. Reusing the property for light industrial purposes fits into the development plans of the City.
PROJECT GOALS: Increase year-around family wage jobs in Pateros area. Increase manufacturing and commerce opportunities in the area.
Pateros is regulation friendly – Don’t wait months for permits, turn-around is in weeks.
Resources: Land, location, electric, fiber, water, rail, trucking, work-force
PROJECT FUNDING & CITY CONSULTANT:
The City received $30,000 grant from Rural Development, Rural Business Development Grant and has a contract with CREÄ Affiliates, llc.
INVEST IN PATEROS
Did you know that Pateros is a federally designated Opportunity Zone?
What is an Opportunity Zone?
The federal Tax Cuts and Jobs Act of 2017 was signed into law on Dec. 22, 2017. The Opportunity Zone program was included in that act, which was designed to provide tax incentives to investors who fund businesses in underserved communities.
Investors are able to defer paying taxes on capital gains that are invested in Qualified Opportunity Funds that in turn are invested in distressed communities designated as Opportunity Zones by the governor of each state. Up to 25 percent of the low-income census tracts in each state can be designated as Opportunity Zones.