View opportunity zones

 

Why invest in an opportunity zone?

Any taxpayer can defer capital gains taxes by reinvesting those gains in a qualified opportunity fund.

A qualified opportunity fund is any investment vehicle that holds at least 90 percent of its assets in qualified opportunity zone investments, including:

• Property (e.g. real estate, equipment, infrastructure) within an opportunity zone

• Stock or equity in a trade or business whose owned or leased property is in a qualified opportunity zone

Through a series of basis increases, capital gains taxes are decreased through time as the investment is held in the fund. If the investment is held in a qualified opportunity fund for 10 years, the basis of the investment is equal to the fair market value of the investment.

Eligible Zones in Wyoming

To be eligible to nominated for opportunity zone designation, a census tract must meet one of the two following criteria.

Low-income community eligibility

Census tracts must have a poverty rate that is greater than 20% or median family income that is less than 80% of statewide median family income.

Qualified contiguous eligibility

Census tracts must be adjacent to a qualified low-income community that is designated as a qualified opportunity zone, and median family income of the tract must not exceed 125 percent of the median family income of the low-income community with which the tract is contiguous.

Nomination Methodology

Nominations were based on outreach to local economic development organizations, other community leaders, community development finance professionals, site selectors, and members of the investment community. Individual eligible tracts were considered to determine designations based on potential to create new jobs and new wealth statewide as opportunity zones.

Opportunity Zones: A Diverse Portfolio of Opportunities

The tracts nominated in Wyoming offer tremendous opportunity for investors and communities.

A range of investment opportunities

• Businesses - startups, expansion and recruitment

• Real estate

• Infrastructure

• Research

Geographic diversity

• Cities, towns and rural areas

• Statewide distribution

 

Next Steps

The Business Council and others are working toward attracting investment in the designated opportunity zones, to the benefit of Wyomingites in and outside those zones. Watch for updates on this website and social media.

If you have questions about this program, please reach out to Josh Keefe, economic development finance manager, at 307-777-2882 or josh.keefe@wyo.gov.