Opportunity Zone for Searcy Submitted
Searcy
05/02/2018 01:57 PM
A tract in Searcy was one of 85 sites that the State of Arkansas submitted to the US Treasury Department for approval for Opportunity Zone Status. The tract included a diverse mix of commercial, industrial and residential properties. The current Industrial Park and the Searcy City Center fall in the tract. The area’s potential for development played a significant factor in its selection.

Opportunity Zones are part of a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that they are dedicated to investing in.
 
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