SHAWANO, WI – Community leaders gathered at Stubborn Brothers Brewery for the Shawano County Economic Progress Summit, where Opportunity Zones took center stage as a key tool for driving future growth and investment.
Shawano County Economic Progress Executive Director Peter Thillman explained that Opportunity Zones were first created during the Trump administration and recently renewed through federal legislation, making them a powerful incentive for development. “It makes investments in certain areas of the country more attractive,” Thillman said.
Thillman says Shawano currently has one Opportunity Zone in place, with the potential to expand to two moving forward. While the first designation wasn’t fully utilized, he says there is now a renewed push to build momentum and attract more development into the community. That includes the possibility of outside investment, particularly in housing, with local developer Jason Tadych already working on a project supported by Opportunity Zone funding.
Thillman also emphasized the importance of collaboration and urgency moving forward. He says community partners, including Shawano County, SAM25, and Safe Haven, must work together to ensure the zones are re-designated for the future. “We need to mobilize,” Thillman said. “That requires the governor to redesignate us and HUD to approve it, so we need to make sure we have that momentum here in Shawano County for the next 10 years.”
Different Shawano Organizations at the SCEPI Summit
Opportunity Zones are designed to attract outside capital, creating opportunities for growth that may not otherwise be possible in rural communities. Thillman added that those who missed the summit can review presentation materials on the Shawano Country Chamber of Commerce website or contact his office directly.
Also speaking at the summit was Ethan Hollenberger, Senior Advisor for the U.S. Department of Housing and Urban Development’s Great Lakes Region, who highlighted the broader impact of the program. Hollenberger called Opportunity Zones “the largest economic development program in American history,” noting they were created under the Trump administration and reauthorized to allow redesignation every 10 years. He added the program has proven especially effective in rural communities like Shawano, where updated incentives could provide even greater tax benefits for investors moving forward.
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