As reported on theoaklandpress.com, written by Natalie Broda
In the land of OZ, anything is possible.
A new federal tax incentive meant to unlock billions of dollars of investment in economically distressed areas is sparking interest in Oakland County — particularly in the city of Pontiac.
They’re called Opportunity Zones, created by the 2017 Tax Cuts and Jobs Act. Their purpose is to offer capital gains tax relief to those who invest in economically challenged areas, a catalyst that’s capturing the attention of developers and investors around the nation.