Discussion continues about specified “opportunity zones” in Arkansas and state tax laws now reflect the federal code to establish these zones. The state legislature has partnered with Congress and the executive branch to establish these areas that will offer incentives to private investments through capital gains tax relief. The goal is to spur new business or fund projects that could revitalize Main Street. One of those 85 opportunity zones established in the state include the city of Nashville. A timetable set by the White House Opportunity and Revitalization Council will also fund federal grants, partnerships, and other special programs.
To learn more, visit the Arkansas Economic Development Commission website at arkansasedc.com.