Created by Congress in 2017, Opportunity Zones legislation was included in a tax cut bill signed by President Trump. Opportunity Zones are designed to encourage private investment in neighborhoods deemed to be most “in-need”. In return for investing in areas selected by state governors as the “neediest areas”, investors can avoid paying taxes, open almost any type of business and are not required to live in the areas in which they are investing.
There are 8,762 Opportunity Zones throughout the United States. Seventy-four are in Kansas and 161 in Missouri. Trillions of dollars in potential capital gains taxes are eligible for reinvestment in these zones nationwide.
This in-depth series explores the implementation of Opportunity Zones in the Kansas City area, on both sides of the state line, and traces its impact. Take a look each Wednesday through June 10 as Flatland explores the nuances of the law and the forces behind the opportunities. Hear from community leaders, developers and government officials to gain a better understanding of the possibilities and limitations of Opportunity Zones around the metro area.