The Tax Cuts and Jobs Act of 2017 established Opportunity Zones to provide tax incentives for investment in designated areas.
Investments made through special funds in these zones are allowed to defer or eliminate federal taxes on capital gains. Highly anticipated and closely watched, Opportunity Zones are becoming a popular investment tool throughout the country.
The East Bay region is home to numerous Opportunity Zones, from the urban areas of Oakland to the more suburban areas of eastern Contra Costa County. To see these Bay Area Opportunity Zones, a map can be found on the Metropolitan Transportation Commission (MTC) website.
– Jordan Davis, City of Pittsburg