Local Opportunity Zones

Department of Business Development - Washington County, Maryland

“The Opportunity Zone program allows Maryland to attract capital to energize the development of communities that have not traditionally seen private-sector investment, and they will be a game-changer for Maryland.”

- Kenneth C. Holt, Secretary of the Maryland Department of Housing and Community Development.

Washington County has five Opportunity Zones in two areas:  the City of Hagerstown and the Town of Williamsport.  Click on the map image above to learn more about the Opportunity Zones.

 

Opportunity Zones feature new federal tax incentive designed to drive long-term private investment to distress communities. Investors will be able to defer and even reduce their federal tax liability on the sale assets if they place their gains into and Opportunity Fund, which will pool capital and support investments in small businesses and real estate within the Opportunity Zones in order to improve communities and the quality of life for residents.

 

This program is designed to be flexible; allowing a range of different types of investments and unlike other federal tax credit programs, there is no authorized cap on the amount of capital that could be made available through Opportunity Zone investments.

 

 

For more information, please contact our Business Development team at edcinfo@washco-md.net or call 240-313-2280.

 

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