What are Opportunity Zones?
In December of 2017, a federal bill, also known as the Tax Cuts and Jobs Act of 2017, was passed creating an incredible tax break for investors through a new program known as Opportunity Zones. Investors will be allowed to defer their capital gain taxes, as well as permanently excluding taxable income of capital gains from the sale or exchange of an investment in an Opportunity Fund.
Its purpose is to provide tax incentives, as well as temporary tax deferral on capital gains, when investors reinvest these gains in Opportunity Zone funds. In return, this money is used for qualifying census tract communities, also known as Opportunity Zones. If these gains are kept in opportunity funds for more than 10 years, taxes will essentially be eliminated on any additional capital gains.
This bill allowed for the government to pin-point census tract locations that qualify to be Opportunity Zones. There are 8 Opportunity Zones located in Oklahoma City.
Why invest in Oklahoma City Opportunity Zones?
A combination of $2 billion in public investments in quality of life projects, combined with infrastructure investments of $2.4 billion and private investments of another $6 billion make this one of America’s most dynamic and fascinating communities. The list of reasons you should invest in Oklahoma City is growing - almost as quickly as the list of reasons why people love living here. In Oklahoma City, we understand that partnership among business, government, EDOs and civic leaders is integral to our success. Let us introduce you to Oklahoma City: a city that has rediscovered its strengths - and redefined itself for the future; and to the economic development partnership that is here to help you create success. For more information: