What are Opportunity Zones?
Opportunity Zones are a new tool providing tax incentives for reinvestment of capital gains. Opportunity Zones allow investors, fund managers and communities to use privately-sourced funds for eligible economic development and community re-investment projects.
The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017. This act created qualified Opportunity Zones across the U.S. A total of 879 of these designated opportunity zones are in California. This designation is valid for 10 years.
Escondido's Opportunity Zone (OZ)
Escondido's designated OZ is located in the central part of the city. It includes investment opportunities in and around the Civic Center, Grape Day Park, and Historic Downtown.
Interested in investing in Escondido's Opportunity Zone?
Contact Michelle Geller, Economic Development Manager