Experts in Opportunity Zones, a new investing mechanism to stimulate growth in communities that qualify, will explain the workings of them at a free informational event next week.
Greater Grays Harbor Inc. will host the event from 1 to 3 p.m. Thursday at Quinault Beach Resort and Casino in Ocean Shores.
The Federal Tax Cuts and Jobs Act of 2017 was signed into law on Dec. 22, 2017. The Opportunity Zone program was included in that act, which was designed to provide tax incentives to investors who fund businesses in under-served communities. Investors can defer paying taxes on capital gains that are invested in distressed communities designated as opportunity zones by the governor of each state. Grays Harbor has three “opportunity zone” census tracts, which include parts of Aberdeen, Hoquiam and the coast from Ocean Shores to Moclips.
At the event, participants will learn more about opportunity zones, how to take full advantage of this new federal program and how they can benefit investors and communities in Grays Harbor.
Speakers will include representatives from the Washington State Department of Commerce, National Development Council, Federal Reserve Bank of San Francisco and special guests from Clallam and Thurston County Economic Development Councils.
To reserve a seat, contact Grant Jones at 360-532-7888 or email@example.com.