Opportunity Zones

An Opportunity Zone is a census tract that has been classified as an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury. This program was created by the Tax Cuts and Jobs Act on December 22, 2017.

Opportunity Zones are an economic development tool that are designed to spur economic development and job creation in distressed communities by allowing investors to defer, reduce and potentially eliminate capital gains liabilities by investing in Opportunity Zone Projects.

Our Opportunity Zones

Our Prospectus

In collaboration with the City of Akron, City of Barberton, City of Cuyahoga Falls, Greater Akron Chamber, Development Finance Authority, Summit County Land Bank, Downtown Akron Partnership, Alpha Phi Alpha Homes, Environmental Design Group and Brennan Manna and Diamond, Summit County and its partners have developed a prospectus for opportunity zone investment within our community. To view our prospectus, please click here.