On a 2017 visit to Denver, Lisa and Dave Buddecke had their first meal in a food hall. They left marveling at the experience, which was foreign to their community in Twin Falls, Idaho, and dreaming about how one would be received.
Their dreams were made a reality when they realized that an old building that was smack dab in the middle of an Opportunity Zone, making it eligible for a policy created in the 2017 tax policy passed by Republicans in President Donald Trump’s first year in office. At the time, the concept was foreign to her, but while she was researching the policy, she pulled up a map of Twin Falls and discovered that the old Salvation Army building she and Dave were considering buying was in the middle of an Opportunity Zone.
Soon, “2nd South Market” was open for business.
The Buddecke family’s creation is showcased in the latest documentary from IW Features, which argues that the tax law is to thank for revitalizing this building and supercharging the local economy.
“Opportunity Zones allow investors to defer capital gains taxes by reinvesting in designated low-income areas.” IW Features wrote along with the latest episode of Earn More, Pay Less: How America Grew Under the Trump Tax Cuts. “But the best benefits only kick in if you genuinely commit to the community: the longer you stay, the bigger the benefits. By year 10 of an Opportunity Zone investment, capital gains taxes drop to zero.”
When they bought the building, which was first built in 1926, the Buddecke’s decided to lean into its age-old history by reusing wood and turning historical findings into decorations. Soon, “2nd South Market” was open for business.
The Buddeckes did not want to sign on larger names, instead opting to celebrate local businesses and provide opportunities for their community. One of the vendors, called Fuji Express, is run by a Burmese immigrant named Chan Chan, who was able to buy his first home in the United States as a result of the food hall.
“Our goal was to have a different vendor that would bring a different concept to the food hall,” Buddecke said. “So, having a barbeque, having pizza, having coffee, having dessert, having Asian food, and then a bar.”
“These businesses, like Fuji Express, he doesn’t have to go out and buy his own building,” Buddecke told IW Features. “He doesn’t have to pay all the brick and mortar to run his own place. He wouldn’t have been able to do that from a cost standpoint.”
Thanks to President Trump’s 2017 legislation — which, in addition to Opportunity Zones, provided tax cuts, expanded the standard deduction, and doubled the child tax credit — the Buddecke’s were able to offer these opportunities for their local vendors.
The documentary’s Monday release is strategically timed to the fight over Trump’s signature “One Big, Beautiful Bill Act.” It would enshirine the provisions of the 2017 legislation that are set to expire in 2026, including Opportunity Zones.
Buddecke says the passage of the Bill would greatly benefit individuals and small businesses, as the 2017 legislation has already caused over $100 billion to be invested in Opportunity Zones nationwide.
“The fact that we can hire local business folks so that they can grow their business, they can hire people, they can add more to the success of their family — that’s really our greatest joy,” Buddecke said.
[#item_full_content]
[[{“value”:”
On a 2017 visit to Denver, Lisa and Dave Buddecke had their first meal in a food hall. They left marveling at the experience, which was foreign to their community in Twin Falls, Idaho, and dreaming about how one would be received.
Their dreams were made a reality when they realized that an old building that was smack dab in the middle of an Opportunity Zone, making it eligible for a policy created in the 2017 tax policy passed by Republicans in President Donald Trump’s first year in office. At the time, the concept was foreign to her, but while she was researching the policy, she pulled up a map of Twin Falls and discovered that the old Salvation Army building she and Dave were considering buying was in the middle of an Opportunity Zone.
Soon, “2nd South Market” was open for business.
The Buddecke family’s creation is showcased in the latest documentary from IW Features, which argues that the tax law is to thank for revitalizing this building and supercharging the local economy.
“Opportunity Zones allow investors to defer capital gains taxes by reinvesting in designated low-income areas.” IW Features wrote along with the latest episode of Earn More, Pay Less: How America Grew Under the Trump Tax Cuts. “But the best benefits only kick in if you genuinely commit to the community: the longer you stay, the bigger the benefits. By year 10 of an Opportunity Zone investment, capital gains taxes drop to zero.”
When they bought the building, which was first built in 1926, the Buddecke’s decided to lean into its age-old history by reusing wood and turning historical findings into decorations. Soon, “2nd South Market” was open for business.
The Buddeckes did not want to sign on larger names, instead opting to celebrate local businesses and provide opportunities for their community. One of the vendors, called Fuji Express, is run by a Burmese immigrant named Chan Chan, who was able to buy his first home in the United States as a result of the food hall.
“Our goal was to have a different vendor that would bring a different concept to the food hall,” Buddecke said. “So, having a barbeque, having pizza, having coffee, having dessert, having Asian food, and then a bar.”
“These businesses, like Fuji Express, he doesn’t have to go out and buy his own building,” Buddecke told IW Features. “He doesn’t have to pay all the brick and mortar to run his own place. He wouldn’t have been able to do that from a cost standpoint.”
Thanks to President Trump’s 2017 legislation — which, in addition to Opportunity Zones, provided tax cuts, expanded the standard deduction, and doubled the child tax credit — the Buddecke’s were able to offer these opportunities for their local vendors.
The documentary’s Monday release is strategically timed to the fight over Trump’s signature “One Big, Beautiful Bill Act.” It would enshirine the provisions of the 2017 legislation that are set to expire in 2026, including Opportunity Zones.
Buddecke says the passage of the Bill would greatly benefit individuals and small businesses, as the 2017 legislation has already caused over $100 billion to be invested in Opportunity Zones nationwide.
“The fact that we can hire local business folks so that they can grow their business, they can hire people, they can add more to the success of their family — that’s really our greatest joy,” Buddecke said.
“}]]
