As part of the federal tax reform bill, states had the opportunity to identify “Opportunity Zones” for local economic development opportunity. The program allows investors to utilize incentives including capital gains tax breaks by investing in a designated Opportunity Zone. The U.S. Department of Treasury recently certified the California Opportunity Zone map, which can be found here. According to the California Department of Finance, zones were determined based on: a focus on poverty, areas with business activity, and geographic diversity. San Diego is situated to benefit from this program, with a notable chunk of census tracks designated as Opportunity Zones.
Opportunity Zones Program in California
June 14, 2018