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Frederick County, in collaboration with the City of
Frederick and City of Brunswick, has launched a website to help connect
investors with existing local ventures eligible for the Opportunity Zone
The Opportunity Zone program is a
nationwide initiative administered by the U.S. Treasury and created under the
2017 Tax Cuts and Jobs Act. The program allows investors to receive federal tax
incentives by investing their capital gains into select communities
(Opportunity Zones) via special investment vehicle called Opportunity Funds.
Investors may receive increasing discounts on any capital gains taxes due on
that money. If an investment is left in the Opportunity Fund for 10 years, any
new gains are free of capital gains taxes.
The program is designed to be flexible, allowing a range of
different types of investments, and unlike other federal tax programs, there is
no authorized cap on the amount of capital that could be made available through
Opportunity Zone investments.
“Frederick County is a great place to do business,” said
Frederick County Executive Jan Gardner. “We want to provide investors with a
range of opportunities. These new Opportunity Zones provide another reason
companies and businesses should locate and expand in Frederick County.”