Full and original article posted by the Worcester Business Journal.
Central Massachusetts would have fewer opportunity zones under a new map submitted by Gov. Maura Healey’s administration, although Worcester would gain one zone and account for nearly half of the region’s proposed designations.
The state nominated 15 census tracts in eight communities within Central Massachusetts, down from the 24 tracts in 11 communities designated in 2018.
Opportunity zones offer federal tax benefits to investors who reinvest capital gains through qualified opportunity funds in designated low-income census tracts. Massachusetts submitted 104 proposed zones in 46 municipalities to the U.S. Department of the Treasury on Oct. 2, choosing from 414 eligible tracts.
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