Opportunity Zones are economically distressed areas, nominated by America’s governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service. Under certain conditions, new investments in Opportunity Zones may be eligible for preferential tax treatment.
There are 8,764 Opportunity Zones in the United States, and we have one with I-45 frontage here in the City of La Marque.
The Opportunity Zone Program was created through the Tax Cuts & Jobs Act of 2017. On March 22, 2018, Governor Greg Abbott submitted the state’s Opportunity Zone designations to the U.S. Treasury Department to encourage long-term investment in eligible Texas communities.
The Opportunity Zones initiative is an incentive designed to spur private and public investment in America’s underserved communities. For information, please visit the Opportunity Now website or contact Alex Getty at 409-938-9258.