If federally approved, new developments in downtown and much of north Baton Rouge would be eligible to take advantage of the Opportunity Zone tax incentive program.
The tax-incentive program—which offsets some of the cost of new development—is attractive for long-term investments, Gabriel Vicknair, assistant executive director for the Downtown Development District, said at this morning’s DDD meeting.
The draw for investing in an Opportunity Zone is deferring and lowering federal taxes on capital gains, according to Louisiana Economic Development.
For a qualified investment, capital gains taxes may be deferred for five years, and then may be canceled on 10% of the original investment.
“This is another economic incentive we can add to our toolkit,” says DDD Executive Director Davis Rhorer.
