Martin discusses Qualified Opportunity Zones at Dayton economic forum
At an event hosted by the Dayton Development Coalition, Public Finance attorney Shannon Martin joined local stakeholders and investors in a discussion of opportunities surrounding Qualified Opportunity Zones (QOZs). QOZs, established by the recent federal tax reform bill, are low-income areas that have been specifically designated by the state and federal government. This Opportunity Zone program allows a taxpayer to reinvest proceeds from the sale of an eligible business or property into an Opportunity Fund, which, in turn, will invest in one or more businesses or properties located within the QOZ.
Shannon shared with attendees that this new opportunity could have a significant impact within Montgomery County and beyond. “Dayton isn't the only local city designated as an opportunity zone,” Martin said, according to the Dayton Business Journal (subscription required). “Piqua, Springfield, Trotwood, Harrison Township, Riverside and Wilmington have all earned QOZ status as well, creating even more investment possibilities for the Miami Valley.”
Martin also advised that investors and communities should stay tuned as regulations implementing the program are finalized in the coming months.