What are Opportunity Zones in the City of Charleston?
Opportunity Zones are a new community development program that was established by Congress in the Tax Cuts and Jobs Act of 2017. The program encourages long-term investment in low-income urban and rural communities across the country by providing tax incentives for investors willing to put their unrealized capital.
- Downtown Central Business District Elk River to Brooks Street and the Kanawha River to the railroad tracks.
- Warehouse District & East End North of Washington Street to Piedmont, Brooks Street to Greenbrier Street.
- Near West Side & Elk City Area South of Washington Street to the Kanawha River.
- Elk River to Park Avenue Kanawha City 44th Street, south of MacCorkle Avenue and east to the City limit.
WV Opportunity Zones connecting private capital and public good gains to work in places that haven’t had much access to community development capital before.In order to be created, Opportunity Zones had to be nominated by the Governor and certified by the U.S. Treasury. Governor Jim Justice and U.S. Senator Shelley Moore Capito announced in 2018 that four census tracts in Charleston have been designated.
For maps with these zones please visit Opportunity Zone Maps