Opportunity Zones

logo
GUIDE 2022 |​Fifteen Opportunity Zones in 10 communities

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.

Opportunity Zones
graphic: crowdengine

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

2022 Guide

​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).

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