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Governor Deal Announces New Approved Georgia Qualified Opportunity Zones

Georgia.gov

Governor Deal has announced that the U.S. Department of the Treasure and the IRS have approved app of Georgia’s nominations for Qualified Opportunity Zones. The zones were created by The Tax Cuts and Jobs Act to spur economic growth in low-income communities.

 

The distinction allows investors to defer federal taxes by taking capital gains from other investments and investing in the zone designated areas. Georgia submitted 260 nominations from 83 counties. Qualified Opportunity Zones retain this designation for 10 years.

 

Barrow, Elbert and Hall counties are among those in north Georgia with approved zones. The districts are in areas where the poverty rate is greater than 20 percent.

 

 

Alexia Ridley joined WUGA as Television and Radio News Anchor and Reporter in 2013. When WUGA TV concluded operations, she became the primary Reporter for WUGA Radio. Alexia came to Athens from Macon where she served as the News Director and show host for WGXA TV. She's a career journalist and Savannah native hailing from the University of Michigan. However, Alexia considers herself an honorary UGA DAWG!