The Opportunity Zone Program provides federal tax incentives for private entities to reinvest capital gains into Opportunity Funds. These funds are then used to invest in targeted communities throughout the country. The fundamental goal of the Opportunity Zone Program is to stimulate private investment in disadvantaged areas.

In mid-2018, the federal government designated Opportunity Zones from low-income community census tracts nominated at the state level. To qualify as a low-income community census tract, it must have an individual poverty rate of at least 20% and a median family income of up to 80% percent of the area median. In Webster, NY census tract 114.00 was designated as a qualified Opportunity Zone.

Learn more about Webster’s Federal Opportunity Zone.

If you have questions, or would like more information on how the Webster Economic Development Alliance can help grow your business in Webster, NY we invite you to get in touch with us 24/7 through our website’s secure contact page.