The Opportunity Zone program is a nationwide initiative administered by the U.S. Treasury created under the 2017 Tax Cuts and Jobs Act. The program provides federal tax incentives for investment in distressed communities over the next 10 years. Areas designated as Opportunity Zones will be able to reap the benefits of new capital investment to help redevelop underserved communities.
Developed by the Maryland Department of Housing and Community Development to facilitate Opportunity Zone investment, the Maryland Opportunity Zone Information Exchange is the first interactive resource of its kind in the nation, serving as a virtual meeting place for investors, fund managers, property developers, new or expanding businesses, and local stakeholders. The Information Exchange features a locator for projects and businesses located in Maryland’s Opportunity Zones and information on financial and other incentives available at the state, county and municipal level.
Opportunity Zone Fund Listings: A listing of opportunity zone funds seeking to make investments in Maryland.
IRS Delays Opportunity Zone Investment Deadline Due to COVID-19
The Internal Revenue Service issued
Notice 2021-10, providing additional relief to taxpayers affected by the coronavirus pandemic.
In keeping with Governor Larry Hogan’s goal to make Maryland’s Opportunity Zones the most competitive and attractive in the nation, the State of Maryland will support Opportunity Zone investment and projects through a wide variety of programs.
These proven and effective resources can assist with all phases of development for a wide variety of projects.