CNY Opportunity Zone Prospectus Highlights Regional Sites and Businesses Available for Targeted Investments
Posted on December 5, 2019
CenterState CEO, in collaboration with its economic development partners, has released its regional Opportunity Zone Investment Prospectus. This investment prospectus identifies real estate sites and businesses in federally designated Opportunity Zone census tracts. It also highlights Central New York’s strengths, including strong job growth (+6,700 in April) its highly skilled population, diverse economy, excellent quality of living, strategic location and access to logistics, plus nearly $4 billion invested in the economy in the last 10 years.
The prospectus also features the region’s four business incubators, all located within Opportunity Zones and home to companies potentially eligible for tax-advantaged investment. Across Onondaga, Oswego, Cortland and Cayuga counties, there are 21 designated Opportunity Zone census tracts.
Opportunity Zones, created by the federal Tax Cuts and Job Act in 2017, are a powerful incentive for long-term investments in low-income urban and rural communities nationwide. For investors, the program provides Opportunity Funds designated for capital gains tax deferral or elimination. For the community, it creates a unique opportunity to tackle a key driver of economic inequality by targeting those direct investments in underserved communities. The program also provides a chance to execute strategies to leverage additional public and private sector capital and build sustainable businesses.
Companies interested in investing or learning more about the regional prospectus CEO has developed should contact Jared Shepard, research and policy analyst, at email@example.com. Companies interested in investment opportunities should contact Andrew Fish, senior vice president of business development, at firstname.lastname@example.org.
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