What is an Opportunity Zone?
Opportunity Zones create avenues to spur development and economic growth in areas determined by the US census as “low-income communities.” Designated Opportunity Zones incentivize private sector investments in housing and economic development by providing tax incentives for the developments.
The program was established by Congress in the 2017 Tax Cut and Jobs Act with the input of Utah philanthropist Jim Sorenson and the Sorenson Impact Center .
The Opportunity Zone Eligibility Tool was created to help interested parties in determining which tracts in their state or region have been designated and how they relate to other federal programs and designations.
To learn more about Opportunity Zones in the State of Utah contact Patrick Mullen at the Utah Association of Counties Patrick@uacnet.org | 801.265.1331.