City of Bethlehem Opportunity Zone Overview
On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) created Qualified Opportunity Zones, a tool for promoting long-term investment in low-income communities. An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Opportunity Zones are designed to spur economic development by providing tax benefits to investors. The federal tax bill passed at the end of December 2017 enables the governor to designate certain census tracts as Opportunity Zones. Investments made by individuals through special funds in these zones would be allowed to defer or eliminate federal taxes on capital gains. There are nearly 1,200 eligible census tracts and the governor designated 300 tracts based on economic data, recommendations from local partners, and the likelihood of private-sector investment in those tracts.
3rd Party Resources
Bethlehem Opportunity Zone Map
Bethlehem is a city in eastern Pennsylvania, United States. It lies in Northampton and Lehigh counties. Bethlehem borders with the cities of Allentown and Easton and is part of the greater Lehigh Valley community. It has a population of 74,982, according to the 2010 United States Census.
GDP in Lehigh Valley