At The Podium
Opportunity Zones: A New Tool for Economic Development
While most expected that the Tax Cuts and Jobs Act of 2017 would eliminate or substantially reduce certain federal economic development tax incentives, it did neither. Instead, the Act actually contained a newly created economic development tool designed to incentivize eligible taxpayers to make investments in businesses and real estate developments in low-income census tracts called “opportunity zones.”
Speaking before the Tulsa Economic Development Commission on April 18, 2018, economic development attorney Cheryl Denney provides an overview of the new Opportunity Zone program, discusses the three benefits available to eligible taxpayer-investors, and reviews the basic structure and requirements of a qualifying Opportunity Zone investment.