An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017.
Localities like this one in Jacksonville 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 via his delegation of authority to the Internal Revenue Service.
The City of Jacksonville Opportunity Zone holds a great deal of potential for both commercial and residential development. This zone is centrally within the City, encompasses open land, established neighborhoods and businesses. It is adjacent to the downtown area and the New River. Areas nearby Camp Lejeune and New River Air Station, Lejeune Memorial Gardens, the Jacksonville Station - a multi-modal Transportation Center, downtown Sturgeon City, parks, trails, Jacksonville Landing public water access, City Hall and the Center for Public Safety, County Health and Human Services, the County Courthouse and local neighborhoods. Learn more about incentives for developers and businesses, see zoning concepts and next steps for starting a conversation with the City of Jacksonville.