Senator Edwards Calls on Congressman Meadows To Allow Modifications to Opportunity Zones
RALEIGH, N.C. – Senator Chuck Edwards (R-Henderson) issued the below statement calling on Congressman Mark Meadows to modify Transylvania County’s Opportunity Zone:
The Opportunity Zone tax incentive, enacted into law by Congress as part of the Tax Cuts and Jobs Act of 2017, offers tremendous opportunities for transformational impact, including new jobs and higher wages in low-income areas throughout the country.
With some slight modification, it could be a game-changing force to help revitalize the economy of Tranysvalyina County and other rural parts of our state.
North Carolina has just over 1,000 of these tracts, and only 252 tracts can be federally designated Opportunity Zones; Transylvania county has one.