Posted by Staff Writer on 12/14/2018 to Business Opportunities
IncSmart District of Columbia (Small Business and Startups) - District of Columbia boosts Opportunity Zones in distressed areas of the United States. President Trump signed an order directing 13 Federal Agencies to target low income and distressed areas in America. The program was created in 2017. State governors have included over 8700 areas that can benefit from the Opportunity Zone distinction. The program will be headed by HUD Secretary Ben Carson.
This executive order allows for tax benefits to developers and investors who build in poor neighborhoods. The law will require area with poverty areas at 20% or more. This bill also rules out sin businesses such as liquor stores in these under served communities. There is a list of 150 actions from Ben Carson as to what they are looking for. This will also create an increase of government spending inside the zones.
By IncSmart Staff Writer
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