Created as part of the federal Tax Cuts and Jobs Act of 2017, an Opportunity Zone is a place where long-term investment provides progressive tax benefits for individuals who convert unrealized capital gains into certified Opportunity Funds. As required by Congress, Opportunity Zones were identified by states based on census tract information and then certified by the Secretary of the U.S. Treasury.
Macomb County is home to 17 Opportunity Zones in six communities: Clinton Township, Eastpointe, Mount Clemens, Roseville, Sterling Heights and Warren.
Macomb County is ready to assist managers of Opportunity Funds and connect them with Opportunity Zone properties. Our professional team of business consultants provide free and confidential services. We can help to determine if other tools – such as New Market Credits, Low-Income Tax Credits, or Commercial and Industrial Tax Exemption Certificates – can help with financing.
To learn more about Opportunity Zones in the state of Michigan, go to Michigan Opportunity Zones.
For more information about Opportunity Zones and Opportunity Funds, visit: irs.gov/newsroom/opportunity-zones-frequently-asked-questions.