The Opportunity Zones incentive is a new community investment tool established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. Opportunity Zones provide a tax incentive for investors to re-invest their unrealized capital gains into dedicated Opportunity Funds.
For more information about Opportunity Zones click here to view a presentation by the Sherbert Group.
There are three opportunity zones in the High Point city limits. Two of them are in the Core City, Census Tract 37081014300 and Census Tract 37081013800, the third is in Forsyth County, Census Tract 37067003313. Below are maps of the zones in the Guilford and Forsyth County part of High Point. For a more interactive map, you may go to thePoint and highlight the opportunity zone layer by checking the box on "Jurisdictional" then "Opportunity Zone".
A Qualified Opportunity Fund is an investment vehicle that is set up as either a partnership or corporation for investing in eligible property that is located in a Qualified Opportunity Zone.
The creation of a High Point Opportunity Zone Task Force was approved by the High Point City Council on April 1, 2019. The purpose of the task force is to support and promote investment in High Point's Opportunity Zones.