Purpose of incentive
The Opportunity Zones program is a federal tax benefit that encourages private investment in certain state-designated zones. Benefits to an investor's federal income tax is earned through reinvestment of capital gains into qualified projects. The overall aim of the program is to draw investment to otherwise overlooked opportunities in generally low-income census tracts.
The City of Fort Worth can further support or enhance that investment in a variety of important ways.
View the Fort Worth Opportunity Zones Prospectus(PDF, 3MB)
How it works
The program allows for the deferral or reduction of federal capital gains taxes when investment proceeds are reinvested in an Opportunity Zone.
To benefit from the program, investors must:
- Have capital gains from a previous investment that can be reinvested within a 180-day period
- Commit that capital to an Opportunity Fund, and
- Use the Opportunity Fund to invest in qualified projects located within an Opportunity Zone.
While investors are not required to work with local officials to benefit from the program, the City of Fort Worth can be a critical partner to Opportunity Zone investors and projects.
The City has assembled a broad set of tools designed to strengthen investment opportunities in each of its six Opportunity Zones. Fort Worth's Opportunity Zones include:
- Meacham Airport / Stockyards area (OZ FW-1)
- Fort Worth Stockyards / Northside (OZ FW-2)
- Diamond Hills (OZ FW-3)
- Medical Innovation District / Hillside-Morningside (OZ FW-4)
- Cobb Park (OZ FW-5)
- East Berry / Edgewood (OZ FW-6)
View a map featuring Fort Worth's six Opportunity Zones
City staff can provide invaluable assistance by helping to identify or evaluate eligible project opportunities and, where appropriate, enhance those projects through local incentives. For more information about the program and available support from the City, please review Fort Worth's Opportunity Zones Prospectus or contact the Program Manager at 817-392-6024.