About Opportunity Zones
Opportunity Zones are a new incentive and tool, created as a part of the federal Tax Cuts and Jobs Act of 2017, to encourage long-term investments in communities nationwide. In North Carolina, there are 252 census tracts designated as Qualified Opportunity Zones; while in the Piedmont Triad, there are 43.
Piedmont Triad Opportunity Zone Map
(Click on the map to view the interactive web map)
Guidance and Action
Strategic governments will identify development opportunities and ready them for the market demand that Qualified Opportunity Zones will draw. In order to attract investors to Qualified Opportunity Zones, governments should:
- Identify private projects with the potential to take advantage of Opportunity Zone Incentives.
- Mobilize resources to secure the project sites in order to streamline the process for Investors.
- Investigate the project sites and determine (a) what type of industry is most desired, (b) the current state of infrastructure, (c) the surrounding impact the desired industry will have on adjacent project sites, and (d) the benefits of investing in Qualified Opportunity Zones in each community.
- Engage with interested investors and developers by accessing Opportunity Zone Fund resources from organizations such as Novogradac and NCSHA.
Tools and Resources
Community Playbook: Local Initiatives Support Corporations (LISC) and the Ford Foundation have collaborated and released a Community Playbook for Opportunity Zones. The playbook is broken into six community action steps.
Prospectus Guide: Governments will also need to prepare prospectuses and may follow the guidance and template offered by Accelerator for America to do so.
Regional Contact: Here in the Piedmont Triad, the PTRC is determined and ready to assist communities in the preparation of their Qualified Opportunity Zones. If you have an interest in Opportunity Zones, please contact:
David Putnam | firstname.lastname@example.org | 336.904.0300
Documents & Updates
Below you will find documents relating to Opportunity Zones in the Piedmont Triad