Opportunity Zones are designed to spur economic development and job creation in distressed communities.

Opportunity Zones were created as part of the 2017 federal Tax Cuts and Jobs Act, a federal program designed to encourage long-term capital investments in distressed communities. 

Investors in Opportunity Zones can defer payment of federal income taxes on capital gains reinvested in Qualified Opportunity Funds that fund projects in the distressed communities.  Reinvested capital gains are deferred from taxation until they exit from the Qualified Opportunity Fund or December 31, 2026, whichever comes first.