ENCOURAGING INVESTMENT: Opportunity Zones will spur private investment to revitalize hurting communities and unleash their economic potential.
- In 2017, President Trump signed the Tax Cuts and Jobs Act, which established Opportunity Zones to incentivize long-term investments in low-income communities across the country.
- These incentives offer capital gains tax relief to investors for new investment in designated Opportunity Zones.
- Opportunity Zones are anticipated to spur $100 billion in private capital investment.
- Incentivizing investment in low-income communities fosters economic revitalization and job creation, and promotes sustainable economic growth across the Nation.
LIFTING UP COMMUNITIES: Opportunity Zones help drive economic growth and lift up communities that have been left behind.
- Opportunity Zones are a powerful vehicle for bringing economic growth and job creation to the American communities that need them the most.
- On average, the median family income in an Opportunity Zone is 37 percent below the state median.
- The average poverty rate in an Opportunity Zone is 32 percent, compared with the national rate of 17 percent.
- 8,761 communities in all 50 States, the District of Columbia, and 5 Territories have been designated as Opportunity Zones.
- Nearly 35 million Americans live in communities designated as Opportunity Zones.
At the time President Trump signed this Executive Order, I could not locate current figures on the average median family income for Del Norte County to see if it was 37% below the state median.