FEDERAL INCENTIVES

Opportunity Zone

SUMMARY

An Opportunity Zone is an economically-distressed community where private investments, under certain conditions, may be eligible for capital gain tax incentives. Harlingen has several census tracts designated as opportunity zones.

The Economic Development Administration (EDA) provides strategic investments through competitive grants that foster job creation and attract private investment to support development in economically distressed areas of the United States.

EDA is encouraging our economic development partners to think of Opportunity Zone investment as a new arrow in their quiver to not only enhance ROI for business interests, but also to encourage the public/private partnerships needed to drive private investment to distressed areas.

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