WHAT’S ALL THIS ABOUT OPPORTUNITY ZONES? FIND OUT JUNE 21st!
Workshop will look at new federal tax incentive and how it can work in the Mid-Columbia
If you’ve heard about the new Opportunity Zone tax incentive and still aren’t sure how you can participate, you’re not alone. An upcoming workshop is planned to help clear up those questions. “Opportunity Zones” starts Friday, June 21, at 8:30 a.m. at the Hegewald Center, 710 SW Rock Creek Dr., Stevenson. The event is organized by the Mid-Columbia Economic Development District as part of its mission to promote economic growth.
The Opportunity Zone program was established through the Tax Cuts and Jobs Act of 2017, and was designed to provide tax incentives to investors who fund businesses in underserved communities. Investors can defer paying taxes on capital gains that are invested in Qualified Opportunity Funds. In turn, those funds are invested in distressed communities designated as Opportunity Zones by each state’s governor. In the Mid-Columbia counties of Hood River, Klickitat, Sherman, Skamania and Wasco, 10 opportunity zones census tracts have been identified, five in Oregon and five in Washington.
This workshop will bring in authorities who will discuss Opportunity Zones from several different perspectives. Melissa LaFayette of the National Development Council will provide an overview of the topic including: Opportunity Zones 101, locations of opportunity, Opportunity Zones as a tool for housing and business development. Qualified Opportunity Fund operators will explore how investors can participate and what funders are looking for in projects. Stephen Brooks of the Oregon Model will discuss project awareness and community connections, including mechanisms to promote projects and the social impact of Opportunity Zone investing.
RSVP is required. RSVP to marla@mcedd.org or 541-296-2266.