Today, Senator Thom Tillis (R-NC) joined President Trump in Charlotte to highlight the impact Opportunity Zones are having in the state and across the country.
Opportunity Zones were created by the Tax Cuts and Jobs Act, which was supported by Senator Tillis and signed into law in 2017. Opportunity Zones provide a chance for U.S. investors to use a temporary capital gains deferral in exchange for investing the capital in these communities. This investment opportunity will create new channels for capital that will grow jobs, inspire entrepreneurship, and improve the local economy for future generations. Last year, the United States Treasury certified 252 “Opportunity Zones” in all 100 North Carolina counties.
“I’m proud to have supported the creation of Opportunity Zones across North Carolina, and I want to thank President Trump for speaking today at the Opportunity Now Summit in Charlotte,” said Senator Tillis. “All North Carolinians deserve their shot at realizing the American Dream, and Opportunity Zones are already making an impact by tackling poverty and investing in communities to promote development and economic prosperity.”