- Pinellas Opportunity Zone Website: PCED.org/OZ
- Pinellas Opportunity Zone Prospectus: PCED.org/prospectus
Pinellas County, Florida – Pinellas County Economic Development announces PCED.org/OZ, a new webpage promoting the sixteen Opportunity Zones available for investment within the County, and the Pinellas Opportunity Zone Prospectus designed to highlight the opportunities in each census tract.
Opportunities abound, from the massive redevelopment potential of Tropicana Field in Downtown St. Petersburg, to urban infill projects in the downtowns of Clearwater, Largo and Tarpon Springs, to housing and mixed-use opportunities throughout all tracts.
Pinellas Opportunity Zone Fast Facts
- 16 Opportunity Zone tracts
- 61,442 Population within the zones
- 24,819 Households within the zones
- 12.76 Square Miles, nearly 8,200 Acres
“With the details included in the prospectus and the webpage, we’re hoping to provide investors with the information they need to familiarize themselves with each of these individual census tracts and the different potential investments available to them,” shared Cindy Margiotta, Senior Manager at Pinellas County Economic Development.
“We’re fortunate to have Opportunity Zones spread throughout Pinellas County that include redevelopment opportunities in housing, office and industrial space,” said Mike Meidel, Director of Pinellas County Economic Development.
The Opportunity Zone Program was created as part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury Department. By investing in an Opportunity Zone, through a qualifying Opportunity Fund, investors can defer and/or reduce their federal capital gains tax liability. These tax benefits increase the longer investments are held. There is no cap on the amount of capital that can be invested and the Opportunity Zone incentives can be applied to a wide range of investments in real estate and operating companies.
Pinellas County Economic Development (PCED) works with existing businesses to encourage expansion and seeks to attract new companies with high-wage careers to our community. Through investment tools, business classes, professional consulting services, trade missions to open new markets, and strategic partnerships, PCED fosters a pro-business environment and promotes the ideal business climate of Pinellas County, Florida.