"Opportunity Zones" are a federal program created by Congress in the Tax Cuts and Jobs Act of 2017 to encourage economic development and job creation in low-income urban and rural communities. The program provides federal tax reductions for taxpayers who invest unrealized capital gains into specialized “Opportunity Funds” which then make an investment in designated “Opportunity Zones.” The zones themselves are comprised of low-income community census tracts designated by the governors in every state.
There are 135 eligible “Opportunity Zones” in South Carolina. Parts of Barnwell County are considered an eligible Opportunity Zone. To learn more about Opportunity Zones, and the benefits of doing business in an Opportunity Zone, click here.