What is an Opportunity Zone?
An area within an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment by the Internal Revenue Service (IRS).
Opportunity Zones are designed to spur economic development and job creation in distressed communities.
Opportunity Zones were created as part of the 2017 federal Tax Cuts and Jobs Act, a federal program designed to encourage long-term capital investments in distressed communities.
Investors in Opportunity Zones can defer payment of federal income taxes on capital gains reinvested in Qualified Opportunity Funds that fund projects in the distressed communities. Reinvested capital gains are deferred from taxation until they exit from the Qualified Opportunity Fund or December 31, 2026, whichever comes first.
Overview of Opportunity Zones in Burlington County
Learn more about New Jersey Opportunity Zones https://nj.gov/governor/njopportunityzones/
Liz Verna, Acting Director
Economic Development & Regional Planning Dept
1300 Route 73 North, PO Box 6
Palmyra, NJ 08065
856-829-1900 FAX (609) 265-5006
1900 Briggs Road
Mount Laurel, NJ 08054
1300 Rte. 73 North, PO Box 6
Palmyra, NJ 08065-1900