What are Opportunity Zones?
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service. Frequently ask questions & more about opportunity zones here.
How Can I benefit learning about them?
Opportunity Zones may benefit rising neighborhoods first – these areas have potential to stabilize and revitalize “distressed neighborhoods” and surrounding communities by inviting private investment capital through a series of tax benefits.
Opportunity Zones – Are there any in Silicon Valley?
Here’s a map of the designated qualified opportunity zones. These zones demonstrate the anticipated ability to revitalize neighborhoods and get even more people working.
Opportunity Zones – Santa Clara County (San Jose)
Opportunity zones are also located “over the hill” in Santa Cruz. As previously mentioned in my previous blog post, there are many new developments in Santa Clara county and Santa Cruz county.
Opportunity Zones – Santa Cruz County
Opportunity Zone investments can attract new businesses, thereby potentially generating millions, if not billions, in economic development and create jobs in these communities. (Forbes, 2018)
Call me today to discuss new investment opportunities that are noted to be in the areas “path of progress”.
Lynne Watanabe MacFarlane, MCDM
Intero Real Estate Services | Berkshire Hathaway affiliate