Columbia County 'Opportunity Zone' designation opens door to development
Planning Director Meagan Bailey says status opens door to opportunity
April 11, 2019
COLUMBIA COUNTY—In April of 2018, Governor Jay Inslee approved 139 census tracts in 36 counties for Opportunity Zone status. One of those designations included the majority of Columbia County and allows the county to offer special federal tax breaks to encourage development and job creation.
The Opportunity Zone program was a bipartisan proposal in Congress incorporated into the U.S. Tax Cuts and Jobs Act. It allows the governor of every state to designate up to 25 percent of eligible census tracts as Opportunity Zones – areas that are struggling economically.
Investors can defer paying...