BERLIN — Investors, developers, business and community leaders and the public are invited to join Worcester County Economic Development (WCED) for a forum to learn more about the benefits of investing and doing business in Opportunity Zones. The forum is free and will take place at the Worcester County Library in Berlin, Maryland on July 12, 2019 at 2 p.m.
“The U.S. Treasury issued its second set of proposed regulations for this federal tax incentive earlier this year that further explains investments into the designated Opportunity Zones to encourage economic growth and job creation,” WCED Director Kathryn Gordon said. “Worcester County has three Opportunity Zone designations: Snow Hill, Berlin, and downtown Ocean City. Opportunity Zones offer investors looking to take advantage of the tax incentive plenty of options that will lead to economic and community development.”
The Opportunity Zone Program is designed to drive economic development in distressed communities through private sector investment.
“Investors may defer and even reduce their federal tax liability on the sale of assets if they place their gains into an Opportunity Zone Fund,” Gordon said.
Representatives from the Maryland Department of Housing and Community Development, Maryland Department of Commerce, and Department of Labor will be available to answer questions.
RSVPs are appreciated and can be made to WCED Administrative Assistant Kathy Shubert at [email protected] or 410-632-3112.