Racine, WI — Opportunity Zones, established under the U.S. 2017 Tax Cuts and Jobs Act, encourage private investment and economic growth in severely distressed urban and rural areas. Three of the 120 Opportunity Zones in Wisconsin are located in the City of Racine (link to boundary map).
A recent Opportunity Zones event, co-sponsored by RCEDC and the Kenosha Area Business Alliance (KABA), provided a great overview of the benefits and tax incentives available for investing in qualifying projects located in local Opportunity Zones.
Presentations by the Wisconsin Economic Development Corporation, Husch Blackwell, Bear Real Estate Development and the Wisconsin Housing and Economic Development Authority provided an update on the latest rules and offered examples of how qualifying business expansion and real estate development projects can attract Opportunity Fund investments.