Cape Town Eligible for State Opportunity Zone Designation

BOSTON –The Massachusetts Office of Housing and Economic Development has opened the process for local cities and towns to apply for federal designation as an Opportunity Zone.

The program will serve as an economic development tool for municipalities and will incentivize investment in low income areas by offering favorable federal tax treatment for investors. The program is designed to drive increased investment in local opportunities, with the potential to support business growth, housing, and commercial construction.

“Our administration is committed to helping cities and towns in Massachusetts unlock opportunities for private investments and economic growth,” said Governor Charlie Baker.

“This program will allow municipalities across the Commonwealth to work collaboratively with investors to pursue developments that address their individual community needs.”

12 of the Cape’s 15 towns are eligible to participate under the guidelines, with the exception of Orleans, Harwich, and Chatham.

The federal Opportunity Zone program empowers the governor to nominate up to 138 census tracts for designation as Opportunity Zones.

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