Community Development

Opportunity Zones
The Tax Cut and Jobs Act of 2017 established a new economic tax incentive called Opportunity Zones. The incentive is designed to encourage long-term, private investments in qualified census tracts by providing a federal tax incentive for taxpayers who reinvest unrealized capital gains into Opportunity Funds, which are then invested into opportunity zones. 

Cedar Rapids has three approved opportunity zones, which are displayed in the map below:
Opportunity Zones - Approved
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