Gov. John Carney on Thursday announced that 25 census tracts in Delaware were designated as Opportunity Zones by the U.S. Department of Treasury. This could mean more private investment in economically-distressed communities around the state.
Opportunity Zones encourage private investment by offering tax incentives to investors. Carney nominated the tracts earlier this month.
“Strengthening neighborhoods and communities across Delaware helps improve our economy, stabilize families, and make our state an even better place to live, work and visit,” said Governor Carney. “These Opportunity Zone designations will help build on our ongoing community development efforts, and encourage additional private investment where it can have the most impact ““ in economically-distressed communities.
The newly designated areas include Dover, Milford, Seaford, Georgetown, the Route 9 Corridor in New Castle, the STAR Campus in Newark, and parts of the industrial waterfront.
The full map is available here.
