Wealthy investors, fund managers and real-estate developers are racing to take advantage of a tax incentive meant to spur economic growth in neglected areas.
Interest in the “opportunity zones” Congress created last year intensified when the Treasury Department issued the program’s first guidelines in October. The program offers tax breaks to individuals and companies for investing in selected urban and rural areas that meet income or poverty thresholds….
This article was originally published in the Wall Street Journal November 14, 2018. See it in its original post here.
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