Opportunity Zones – Williamsburg Economic Development Authority

On April 9, 2019, Jenny Connors delivered a presentation on opportunity zones at the Williamsburg Economic Development Authority's monthly business roundtable luncheon. The Virginia Gazette published an article about the presentation.

“Opportunity zones are census tracts that were nominated by Governor (Ralph) Northam,” Connors said. “We had all of these low-income communities under the new market tax credit program, and what the opportunity zone program did is that it told each governor of each state to designate 25 percent of its low-income communities as opportunity zones.”

Since the designation of opportunity zones across the state, Connors said she’s helped business owners make investments in these low-income communities, which could reap long-term tax benefits.

“Deals are getting done,” she said. “We have closed several deals and we have a lot more in the pipeline, so people are moving on this.”

To read the article, click here.