Opportunity Zone Program
The recently passed Federal Tax Cuts and Jobs Act of 2017 authorized a community economic development program called the Opportunity Zones Program. This initiative provides incentives for investors to re-invest realized capital gains into Opportunity Funds in exchange for temporary tax deferral and other benefits. The Opportunity Funds are then used to provide investment capital in certain low-income communities, i.e., Opportunity Zones.
The CBED Program has been involved in outreach and stakeholder meetings on this new initiative. CBED is also promoting Hawaii Opportunity Zones to potential Opportunity Funds and assisting in technical assistance to get potential projects “investment ready.” For more information go to Opportunity Zones Program.