The Franklin News-Post – 'Opportunity Zones' in Franklin County Hopeful to Boost Investment
Last year, Congress introduced the Opportunity Zones program for economic development in distressed areas. These zones represent low income rural and urban areas that can benefit from private economic revitalization. For investors, the short term benefit of an Opportunity Zone is primarily the deferral of capital gains taxes, if the investment in the zone is maintained. Virginia Community Capital says it is cautious but optimistic of the positive effects of this program for areas like Franklin County.