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The U.S. Treasury Approves Wisconsin’s Economic Opportunity Zone Designations
The U.S. Treasury approved the first round of designated qualified Economic Opportunity Zone (EOZ) areas in 15 states, including Wisconsin’s 120 EOZ designations.
This is great news for Wisconsin! WHEDA is well-positioned to put this new federal resource into action to advance even more economic development projects in the state. The newly established Economic Opportunity Zone Program was recently enacted as part of federal tax reform that provides tax incentives for private investments in designated areas. The IRS plans to announce additional information on the certification of opportunity funds, which is required to invest in most EOZs.
Wisconsin’s 120 approved EOZ designations represent 44 counties, 60 municipalities and two tribal reservations. To learn more about Wisconsin’s designated areas and this important new tool, visit our website at https://www.wheda.com/Opportunity-Zones/