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LVEDC Creates Informative Fliers About Qualified Opportunity Zones

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LVEDC Creates Informative Fliers About Qualified Opportunity Zones

Published Friday, April 26, 2019

by Admin team

Pages from the new QOZ flier prepared by LVEDC.

Pages from the new QOZ flier prepared by LVEDC.

The Lehigh Valley Economic Development Corporation (LVEDC) has prepared new informative materials about qualified opportunity zones (QOZs) and how developers can take advantage of them in the Lehigh Valley.

The new two-page flier identifies the QOZ boundaries in the cities of Allentown, Bethlehem, and Easton, while also identifying exact acreage, the number of tax parcels, and demographic information about the region.

"With available land in QOZs in the cities of Allentown, Bethlehem, and Easton offering opportunities including multi-family, office, industrial, and retail, Lehigh Valley offers proven ways to deliver value," the flier reads. "Investors have long known about this region and sought a chance to get in. Now your firm can be involved."

The flier can be downloaded here, and hard copies can be made available upon request. For more information or to obtain copies, contact LVEDC Director of Communications Colin McEvoy at (610) 266-3817 or via email at cmcevoy@lehighvalley.org.

QOZs, created as a result of the federal tax overhaul legislation in December 2017, forgive capital gains on commercial or residential projects in designated areas under certain conditions, promoting and incentivizing long-term investment in low-income communities.

The cities of Allentown, Bethlehem, and Easton each includes zones offering generous tax advantages that will deliver enormous benefits to private-sector investors and promising economic growth potential for the region’s communities.

To maximize the potential benefits, taxpayers must invest in a QOZ before December 31, 2019. For more information about QOZs in the Lehigh Valley, visit this LVEDC site or contact LVEDC Vice President of Economic Development and Marketing Matthew Tuerk at (610) 266-2216 or mtuerk@lehighvalley.org.

QOZs allow investors to defer taxes by reinvesting capital gains from an asset sale into a qualified opportunity fund during the 180-day period beginning on the date of the sale or exchange giving rise to the capital gain.

The LVEDC QOZ flier was designed by Bethlehem-based graphic artist Nichole Smith.

Tags:allentown, Bethlehem, easton, incentives, News Releases, redevelopment

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