What are Opportunity Zones?
Opportunity Zones are a tax advantaged tool that provides an income tax incentive for investors to reinvestment capital gains into the local community. Opportunity Zones allow investors, fund managers and communities to use privately-sourced funds for eligible economic development and community re-investment projects.
To find out if your business or prospective business site is located within the City's Opportunity Zone, please use this link and input the address in the address bar on the upper right-hand side of the state's interactive map.
History
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. You may lookup an address on the state's interactive map to see if a particular property is within the City's Opportunity Zone.
Interested in investing in Escondido's Opportunity Zone?
Contact Economic Development at (760) 839-4587.
Additional Resources