Since the Opportunity Zones program was announcing in 2017, the buzz around investing in Opportunity Zones has grown significantly. However, many of the rules of the program have not been particularly clear, leaving many investors confused. In an attempt to clarify things, the IRS released a new set of Opportunity Zone regulations on April 17, 2019, which, ideally, will increase investor confidence in the program, making it much easier for business owners, investors and Opportunity Fund managers to know what types of investments do and do not qualify.
Ohio, as the seventh largest state in the U.S., contains many extremely promising areas for Opportunity Zones investing, and, as there are a substantial 320 Opportunity Zones distributed througout the state, investors have quite a few areas to chose from. Today, Ohio is known for industries including fuel cell and solar energy development, medical research, aerospace and defense, rubber and industrial products, and tech research and development, which are all contributing to the state’s healthy rate of economic development.