Treasury approves Iowa 62 opportunity zones

Source: Business Record

The U.S. Treasury Department has approved the 62 Iowa Opportunity Zones proposed by Gov. Kim Reynolds. Opportunity Zones is a new program that promotes investment in low-income areas. It uses federal tax incentives to spur development in low-income communities. In a statement, U.S. Sen. Joni Ernst called the designations “a great step in the right direction” and said the areas involved “will soon see private-sector investment and economic development they have needed to get their community growing again. For more details or to apply for incentives, click here or contact OpportunityZones@iowaeda.com.