Created as part of the Tax Cuts and Jobs Act, Opportunity Zones are a federal economic development tool aiming to improve the outcomes of distressed communities around the country.
Opportunity Zones are low-income census tracts that offer tax incentives to groups who invest and hold their capital gains in Zone assets or property. By investing in Opportunity Zones, investors stand to gain a temporary deferral on their capital gains taxes if they hold their investments for at least 5 years, and a permanent exclusion from a tax on capital gains from the Opportunity Zones investments if the investments are held for 10 years.
(Source: Council of Development Finance Agencies (CDFA))
For more information about how Opportunity Zones work, a directory of designated areas, or additional information, please visit the CDFA website or the Pennsylvania Department of Community and Economic Development website.
To view the qualified Opportunity Zone approved tracts, click here.
View more information about Pittsburgh’s Opportunity Zones.