The city of Montpelier is an Opportunity Zone by the U.S. Department of Treasury. The Tax Cuts and Jobs Act of 2017 authorized governors to nominate certain districts as Opportunity Zones. This program provides a significant tax incentive for businesses and investors who invest in the designated areas, including Montpelier. The Opportunity Zone program is designed to encourage economic development and create jobs in underserved communities throughout the country.
Montpelier’s Opportunity Zone is easily accessible by major highways. The area is home to a diverse range of businesses. With the designation as an Opportunity Zone, Montpelier is now even more attractive to investors looking for new opportunities.
For businesses looking to expand or relocate, there is a benefit from Montpelier’s Opportunity Zone designation. By investing in the designated area, investors can defer or eliminate capital gains taxes on their investments. This provides a significant financial incentive for those looking to invest in Montpelier and support the city’s economic growth.
Montpelier Mayor, Kathy Bantz, stated, “We are thrilled to be designated as an Opportunity Zone and look forward to working with businesses and investors who are interested in investing in Montpelier. Our city has a lot to offer, and we are excited to see the economic growth that will come from this program.” For more information about Montpelier’s Opportunity Zone, please visit https://montpeliercity.org/montpelier-rising/.