Seven Hamilton County census tracts have been selected to participate in an evolving and little understood economic development program, which was quietly tucked into last year’s federal tax bill and designed to spur investment in “distressed communities.”
An opportunity zone is intended to spur development like residential, commercial, and businesses. If you’re investing in the Chattanooga area, you might want to check into this. It will provide very attractive tax incentives.
“An Opportunity Fund could reasonably leverage private investment and philanthropic dollars to invest in grocery stores, affordable housing, mixed-use retail development, and small businesses that would not have traditionally attracted investment from the private sector,” Thongnopnua wrote on the Metro Ideas Project website in April.