Nevada Gov. Brian Sandoval is praising the news from the U.S. Treasury that Nevada’s Opportunity Zone designations have been certified.
“I am incredibly pleased that Nevada’s Opportunity Zone designations have been certified by the U.S. Department of the Treasury and the Internal Revenue Service,” Sandoval said June 14.
“As I’ve stated previously, during my administration we have made significant investments throughout our state, but more work remains to be done,” he said.
“Today’s announcement not only encourages private investment in areas of Nevada that are most in need, it will also kick-start construction of affordable housing projects – a priority of my administration – across the state,” Sandoval said.
The Opportunity Zone program, established in the Tax Cuts and Jobs Act of 2017, is a tax incentive, designed to encourage long-term private investment in low-income communities.
Opportunity zones, are low-income community census tracts that could benefit from significant private investment.