Opportunity Zones

The Federal Tax Cuts and Jobs Act of 2017 included a provision known as the Investing in Opportunity Act, which encourages the investment of capital gains into low income areas designated as Qualified Opportunity Zones (QOZs).

These zones are designed to spur economic development and job creation in distressed communities throughout the U.S. by providing tax benefits to those who invest eligible capital into these communities.

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Formula to Access Tax Benefits

To access these tax benefits, investors must invest in Opportunity Zones specifically through Opportunity Funds.

A qualified Opportunity Fund is a U.S. partnership or corporation that intends to invest at least 90% of its holdings in one or more qualified Opportunity Zones.

If the investment is held 10 or more years, capital gain taxes will be eliminated.

Communities

Oakland County has 15 Opportunity Zones in 10 communities –

Ferndale
Hazel Park
Madison Heights
Oak Park
Pontiac (4)

Rochester Hills
Southfield (3)
Troy
Waterford
Wixom

Each of these zones cover a diverse set of future land uses, ranging from downtown neighborhood business to regional commercial/industrial designations.

Opportunity Zone Web Map

Please refer to the Opportunity Zone Web Map. Click on any designated zone to view it’s associated attributes, including their current zoning, future land use and summary of development in the area.

One page, printable “fact sheets” with similar information are also available by zone and can be found here:

Contact the individual community for more information regarding investment and development in their zone(s).

Additional Resources

Questions? Contact:
Michael Woods, AICP
Oakland County Economic Development
(248) 762-6395 | woodsmp@oakgov.com