With the passing of the Tax Cuts and Jobs Act, enacted in December 2017, Opportunity Zone designations were made to encourage long-term investments in areas of economic need.
According to the IRS:
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
In Oregon, there are 86 qualified Opportunity Zones. This site was created to support the development in Eugene Area.
Eugene Area Opportunity Zones
There are 3 zones in the city of Eugene:
- Bethel – Danebo – West Eugene Area
- Downtown Eugene
- Riverfront – University District
And there are two more in the Eugene-Springfield Metro Area:
- Glenwood – Goshen Area
- Downtown Springfield
To see the rest of the zones in Oregon or to learn more about Opportunity Zones from the state of Oregon perspective please see the Business Oregon Website – Business Oregon Opportunity Zones
Eugene Chamber of Commerce
The Eugene Chamber of Commerce is working with local investors, business owners, property owners, developers, business professionals and the University of Oregon to host regular information sessions and help connect resources. If you are interested in getting engaged in this work please contact us.
To learn more about the Eugene Chamber – Eugene Area Chamber of Commerce Website.