Opportunity Zone

The Opportunity Zone Program is a federally-established program which provides investment incentives for designated areas in order to encourage growth in low income communities.  

In 2018, Governor Baker nominated 138 different census tracts for Opportunity Zone designation.  

In May of 2018, the Town of Provincetown was designated an Opportunity Zone.

The Town of Provincetown recognizes the importance of this designation, and has created a list of goals which it would like to see Opportunity Zone projects meet.  The Town has also highlighted recent successes which may help investors determine how to tailor their opportunity zone projects.  To see more information on this, please click on the link below.

https://www.mass.gov/files/documents/2018/12/05/Provincetown.pdf

On December 19, 2019, the tax regulations associated with Opportunity Zones were submitted to the Office of the Federal Register (OFR) for publication.  These Regulations for Opportunity Zones can be found by clicking on the link below:

https://www.irs.gov/pub/irs-drop/td-9889.pdf 

The State of Massachusetts has a website dedicated to the Opportunity Zone Program, which includes a map of designated areas, as well as frequently asked questions about Opportunity Zones.  To access this website, please click on the link below.

https://www.mass.gov/opportunity-zone-program