The Thurston County Economic Development Council and Opportunity Zone Investments are holding an informational meeting to educate people about “Opportunity Zones” in Thurston County, part of a new federal program.
The event is 1-3 p.m. April 30 at the Center for Business & Innovation at South Puget Sound Community College’s Lacey campus, 4220 6th Ave. SE, Lacey. Attendees can RSVP online.
The federal Tax Cuts and Jobs Act of 2017 created the Opportunity Zone program, which provides investors tax benefits by deferring and decreasing their capital gains by making equity investments into real estate or businesses located within Opportunity Zones, according to Thurston EDC. Investments held more than 10 or longer receive a maximum benefit of permanent capital gains tax exclusion.
There are four Opportunity Zones in Thurston County: Downtown Olympia, Lacey, Grand Mound, and Nisqually.
Speakers at the event include:
- Melissa LaFayette, assistant director for the National Development Council
- Sharayah Lane with the Washington State Department of Commerce
- Craig Nolte, regional manager of community development with the Federal Reserve Bank of San Francisco
- Victoria S. Byerly, local tax attorney
Local municipal and tribal leadership will also be present to highlight the opportunities in their designated zones.