Incentives to invest in Opportunity Zones
Thursday, December 20, 2018
A new opportunity for funding development in Aitkin County was mentioned during the Economic Development Committee meeting on Nov. 14. Aitkin County Growth Executive Director Barb Carr said the county has received Opportunity Zone designation in areas including Aitkin and McGregor, and Tamarack down to the southern county boarder.
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Opportunity Zones were created by the federal government as a way to spur private investment in distressed areas by allowing investors holding unrealized gains in stocks or mutual funds to invest in Opportunity Zones.
Category: Mille Lacs