The RI Opportunity Zones program is a new economic development tool for designated Rhode Island communities to attract private equity investment in businesses and real estate. This federal program provides a tax incentive for private investors to direct capital gains into equity investments in qualified projects within designated Opportunity Zones. The incentive is designed to encourage long-term investment - with certain tax benefits kicking in only after maintaining the investment for at least ten years.
We will welcome RI Secretary of Commerce Stefan Pryor to lead this discussion on Opportunity Zones in Newport and throughout the East Bay.
Thank you to our Economic Update Luncheon Series Sponsor, People's Credit Union.