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Malloy Nominates East Hartford for Opportunity Zones

Posted on: April 24, 2018 - 3:21pm
East Hartford Opportunity Zone Nominations (in Blue)
East Hartford Opportunity Zone Nominations (in Blue)

Governor Dannel Malloy has nominated 72 Census tracts throughout Connecticut, including five here in East Hartford, to be designated as Opportunity Zones by the federal government.  This is part of a program created in the Tax Cuts and Jobs Act of 2017 to incentivize long-term investments in low-income areas.  The program allows investors to delay including capital gains as taxable income by reinvesting the value in these designated areas.  Governor Malloy nominated five areas in western and central East Hartford for the federal government to consider designating. 

Click here to see a map of areas nominated to be Opportunity Zones in Connecticut. 

Read more at the Hartford Business Journal.

Read more about Opportunity Zones from the Economic Innovation Group.

Update:  The US Department of the Treasury approved all of Governor Malloy's Opportunity Zone nominations, including those in East Hartford.  Read more by clicking here.