How Opportunity Zones are Being Used by Startups
Opportunity Zones are a new tax investment vehicle similar to a 1031 Exchange that allows tax deferment on acquisition of real estate and also on investments in businesses. This opens the door for small startups to raise funds for their ventures. Remember that all of Downtown Augusta, Downtown Aiken, and many other city centers in the CSRA are designated as O zones.
See the Forbes Article below for details on how Opportunity Alabama is doing this, as well as an article in Medium by Alex Flachsbart–Founder & CEO of Opportunity Alabama. Also see Enterprise’s overview of OZone program.
Forbes Article: https://www.forbes.com/sites/cognitiveworld/2019/08/07/opportunity-zones-ai/#2a445e2b6a14
Medium Article: https://medium.com/@info_24727/putting-the-opportunity-back-in-alabama-ef305a8b26a
Enterprise overview of O-Zones: https://www.enterprisecommunity.org/resources/policy-focus-opportunity-zone-program
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