Muskingum County Opportunity Zones

Working with the U.S. Treasury, Ohio established 320 Opportunity Zones throughout the state. The selected areas typically show potential for job creation and contain opportunities for investment and development.

 

 Muskingum County is committed to connecting potential investors with development opportunities in our two zones.

About Ohio Opportunity Zones

The federal tax bill passed on Dec. 18, 2017, included the Opportunity Zone program, which gave states the chance to examine census tracts and nominate low-income areas with potential for long-term investment to be targeted for a tax-incentive program.

After being designated by the U.S. Department of Treasury, Ohio’s 320 Opportunity Zones began generating attention from investors interested in taking advantage of their favorable tax benefits. Meanwhile, communities, potential project owners, and economic development organizations are eager to provide opportunities to investors.

Opportunity Zones, created in the 2017 Tax Cut and Jobs Act, encourage long-term investments in low-income urban and rural areas nationwide.

A Few Facts

  • Working with the U.S. Treasury, Ohio established 320* Opportunity Zones throughout 73 of its 88 counties.
  • The zones were selected based on submissions by local government officials and nonprofit and economic development organizations.
  • Long-term investments in designated opportunity zones provide tax benefits for investors to maximize unrealized capital gains.
  • In Ohio, Opportunity Zones are available in large cities, small communities, and Appalachian counties.

* Ohio recommended 320 census tracts (25 percent of 1,280 eligible tracts), its full allocation.

Opportunity Zone Resources
Links to Community & Investor Resources

Incentives

Information about incentives to assist Ohio businesses can be found by clicking here.

Tax Information

Tax-related Q&A on Opportunity Zones from the IRS.

Opportunity Zone Tax Credit

Information about the Opportunity Zone Tax Credit Program can be found by clicking here.

Department of the Treasury

The U.S. Department of the Treasury has information about the Community Development Financial Institutions Fund.

Opportunity Now

Federal Opportunity and Revitalization Council resources.

EIG

The Economic Innovation Group has a full background repository on Opportunity Zones.