Alabama's Opportunity Zone Nominations Gets Full Approval

Friday, April 20, 2018

 

Alabama’s Opportunity Zone nominations receive full approval. The U.S. Department of Treasury and the Internal Revenue Service gave full approval to the zones. Governor Kay Ivey submitted the state’s census-tract nominations in late March. Alabama was one of the first states to submit census-tract nominations. 

 

Opportunity Zones are a new alternative economic development program that provides a federal tax incentive for investors to re-invest into funds dedicated for the zones. Ivey hopes the zones will attract additional industry and jobs to the state. 

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