Opportunity Zones have captured headlines in recent months, as commercial real estate investors, developers, and Opportunity Zone funds look to identify ways to take advantage of the favorable tax treatments associated with investments in these areas across the country.
Opportunity Zones were included in the far-reaching Tax Cuts and Jobs Act of 2017, the tax reform that went into effect in December 2017. The Zones are designed as an economic development tool, with the favorable tax treatment intended to spur investment, economic development, and job creation in distressed communities.
There are approximately 9,000 Opportunity Zones across all 50 states. These designated zones encompass a population of approximately 35 million Americans and more than 1.6 million businesses. To qualify for the program, the Opportunity Zones had to meet certain poverty and income criteria.
Download this white paper for details on how the program works, its history, related real estate strategies, tax benefits, and more.
Read the related Market News article: Opportunity Zones: Creating Value While Reaping Tax Benefits