Opportunity Zones (OZ) were created to help unlock capital gain monies and to encourage investment of those monies in low income areas. There are four Oregon South Coast OZ tracts that are located in Coos (has two small ones), Douglas, and Curry Counties.
South Coast Oregon tracts have poverty rates ranging from 32 percent down to 15 percent. The average poverty rate in Oregon is nearly 16 percent. All tracts have lower household income, home ownership, and rent. Most also have high poverty and unemployment rates, and a severe rent burden (estimated based on state tract averages and eligible non-designated tracts listed in ).
The money used to support OZ development comes primarily from private investors. Investors are required to participate for specific time periods to get the best returns. Once they meet those requirements, investor may be able to defer income taxes and reduce tax liability. Investors are also able to reduce or potentially eliminate capital gain taxes from anywhere in the country for several years. For a large business this could amount to significant savings. [1 2 3]
To see these tracts on a map and some of the meta-data behind the designation point your browser to SCDC’s www.scdcinc.org/incentives and scroll down to Federal Incentives and near the end of that section you will see Interactive GIS maps for four sites. Scroll out to see all OZ designated and non-designated sites and click on a tract to get more information. Tract numbers include Coos 41011000300, 41011000504, Douglas 41019010000, and Curry 4105950100.
Gold Beach, Oregon
For more information about OZ and other incentives on the southern Oregon coast contact the South Coast Development Council, Inc., firstname.lastname@example.org or 541-888-7003. Business Oregon has a very good description of Opportunity Zones at https://www.oregon4biz.com/Opportunity-Zones/.
1 Opportunity Zones in Oregon (https://opportunitydb.com/location/oregon/)
2 What are Opportunity Zones and How do They Work (https://fundrise.com/education/blog-posts/what-are-opportunity-zones-and-how-do-they-work)
3 The Obscure Tax Program That Promises to Undo America's Geographic Inequality (https://www.citylab.com/equity/2018/04/can-opportunity-zones-save-the-country/558266/)
4 SCDC Website www.scdcinc.org/incentives.html
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