CEDS | Opportunity Zones

Western Arizona Economic Development District

Opportunity Zones

Background

An Opportunity Zone is an economically-distressed community where private investments, under certain conditions, may be eligible for capital gain tax incentives.

Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act, signed into law by President Donald J. Trump on December 22, 2017, to stimulate economic development and job creation by incentivizing long-term investments in low-income neighborhoods.

More than 8,760 designated Qualified Opportunity Zones are located in all 50 States, the District of Columbia, and five United States territories. Investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier date on which the investment in a QOF is sold or exchanged or until December 31, 2026.

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EDA & Opportunity Zones

The Economic Development Administration (EDA) provides strategic investments through competitive grants that foster job creation and attract private investment to support development in the United States' economically distressed areas.

EDA is encouraging our economic development partners to think of Opportunity Zone investment as a new arrow in their quiver to enhance ROI for business interests and promote the public/private partnerships needed to drive private investment to distressed areas. Steps EDA has taken to prioritize Opportunity Zones include:

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Regional Prospectus Information

Arizona Opportunity Zones Information

Kingman Arizona Opportunity Zone Prospectus

City of Yuma Arizona Opportunity Zone Prospectus

March 5, 2021, City of Yuma Opportunity Zone Success Article: "Community celebrates La Quinta groundbreaking"

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