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Sussex to host opportunity zones seminar March 22

Investors can receive tax incentives for projects in designated areas
March 18, 2019

The Sussex County Economic Development Office will host a free workshop on five new federally designated opportunity zones aimed at helping spark new business investments and growth in southern Delaware.

The event is set for 8:30 a.m., Friday, March 22, in Rooms 540 A&B of the Carter Partnership Center at Delaware Technical Community College in Georgetown. The seminar will include networking and light refreshments followed by presentations and discussions, with a focus on opportunity zones, what options exist for businesses, and the finances associated with operating in a designated area.

The five opportunity zones, part of 25 zones statewide designated by the U.S. Department of the Treasury, include Milford, Georgetown, Laurel and Seaford. In the zones, qualified investors are eligible for federal tax incentives in identified low-income and economically challenged areas.

“These new incentives will help make central and western Sussex County a new frontier for growth opportunities in our county,” said Sussex County Economic Development Director William Pfaff.

Pfaff said the designation and other incentives, such as the county's new economic development zones and Delaware’s Downtown Development District programs, can be stacked to make investing in the designated areas even more beneficial.

To register for the workshop, go to bit.ly/2NVNTCE. For more information, contact the county economic development office at 302-855-7770.