Las Vegas, Nevada - Today, the Nevada Governor’s Office of Economic Development (GOED) opened the public comment period for the Opportunity Zones program. Created as part of the federal Tax Cuts and Jobs Act of 2017, the program enables Governor Brian Sandoval to nominate up to 61 census tracts to be designated as Opportunity Zones. The zones promote private investment in low-income urban and rural areas by providing a tax incentive for individuals to reinvestment unrealized capital gains into these communities.
“For neighborhoods across Nevada that may feel neglected or hungry for investment, the Opportunity Zones offer significant potential, so it is important we get the designations right,” said GOED Deputy Director Derek Armstrong. “If there is a community you believe GOED should consider for recommendation, we encourage you to visit our website and make your voices heard.”
GOED will accept public comment until Wednesday, April 18 at noon. Once certified by the U.S. Secretary of Treasury, an Opportunity Zone designation lasts until December 31, 2026. Nominations must be made by Governor Sandoval no later than April 20, 2018
Please submit public comment through the webpage:
About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and Governor Brian Sandoval to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development. More information on the Governor’s Office of Economic Development can be viewed at www.diversifynevada.com .