The GBBCC Business Development Committee is following the progress of this initiative to ensure black-owned businesses are engaged in this economic development initiative. Please review the information below, and if you have any questions about opportunities in any of the Greater Baltimore Regions (Baltimore City, Baltimore, Anne Arundel, Howard and Harford Counties), please send your questions to: email@example.com
The Opportunity Zone program is a nationwide initiative created under the 2017 Tax Cuts and Jobs Act and administered by the U.S. Department of Treasury. The program provides federal tax incentives for investment in distressed communities over the next 10 years. Areas designated as Opportunity Zones will be able to reap the benefits of capital gains to help redevelop underserved communities.
Of the 149 Census Tracts in Maryland designated as Opportunity Zones by the U.S. Treasury, 42 are in Baltimore City. For a list of Census Tracts in Baltimore City designated as Opportunity Zones, please click here. For a map of Opportunity Zones in Baltimore City, please click here.
For a map of all 149 Opportunity Zones, please visit http://dhcd.maryland.gov/Pages/OpportunityZones.aspx.
For more information about Opportunity Zones, please visit Economic Innovation Group or the U.S. Treasury at https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx.