Governor Morrisey has confirmed 52 census tracts for the Opportunity Zone 2.0 program that can be seen in the map below. Opportunity Zones (OZs for short) are federally designated census tracts from which private investors can receive significant tax advantages for investing in long-term projects that drive economic and community development. Investors who place capital into a Qualified Opportunity Fund (QOF) that, in turn, invests in a designated OZ tract may access three primary federal tax benefits: tax deferral, partial tax exclusion, and a step-up in basis on eligible gains.
Want to Invest in West Virginia’s Opportunity Zones?
West Virginia offers many compelling project investment opportunities across the 52 opportunity zone tracts that are available to Qualified Opportunity Zone Funds and Investors. Please reach out to our local economic development authorities for more information on West Virginia’s OZ projects.
Questions?
Additional guidance, resources, information and updates about Opportunity Zones 2.0 are available at the following federal websites:
- IRS – www.irs.gov/newsroom/opportunity-zones
Regulatory guidance, compliance requirements and tax treatment - U.S. Treasury – home.treasury.gov/policy-issues/tax-policy/data-transparency/qualified-opportunity-zones
Eligibility lists, certification process and program updates - HUD – www.hud.gov/opportunity-zones/resources
General resources, eligible programs and federal updates. - CDFA – www.cdfa.net/cdfa/cdfaweb.nsf/resourcecenters/oz.html
Financing tools, OZ education and national best practice
If you would like to connect directly about Opportunity Zones 2.0, call 304-558-2234 to connect with a team member.
