Gov. Bevin: Kentucky Opportunity Zone Initiative Holds Promise of Economic Growth for Local Communities

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FRANKFORT, Ky. (April 9, 2018) – Gov. Bevin announced today the U.S. Department of the Treasury certified 144 Opportunity Zones in 84 Kentucky counties under a program in the Tax Cuts and Jobs Act of 2017 that aims to encourage long-term investments in low-income urban and rural communities nationwide.

The designation offers significant federal tax breaks and deferrals to entities and individuals investing in Opportunity Funds, which support development projects within one or more zones. The Kentucky Cabinet for Economic Development will oversee the state’s program through the Kentucky Opportunity Zone Initiative and today launched KYOZ.org to provide information on this widespread and promising opening for economic development.

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Disclaimer: The information contained herein is provided without warranty of any kind. The Kentucky Cabinet for Economic Development does not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained on this website. Further, the available projects listed herein may or may not have the necessary characteristics for the Opportunity Zone program. The Kentucky Cabinet for Economic Development encourages each interested Investor to perform its own due diligence to ensure the project complies with the requirements of 26 CFR § 1.1400z2(d)- 1, et seq.