U.S. Assistant Secretary of Commerce for Economic Development Dr. John C. Fleming outlines how Opportunity Zones can benefit investors while at the same time help transform distressed communities.

Mike Hough, Director of Garrett County Economic Development, spoke about Federal Opportunity Zones at the October 31st meeting of the Greater Grantsville Business Association.

These regulatory proposals help to clarify how investors will engage in Opportunity Zones & provide more framework for communities to understand the types of eligible business & real estate projects.

These regulatory proposals help to clarify how investors will engage in Opportunity Zones & provide more framework for communities to understand the types of eligible business & real estate projects.

“If you invest in an opportunity, you can defer your capital gains,” he explained. “If you keep that property for seven years, capital gains will decrease by 15 percent.”

State officials broke ground on a long-awaited project that will realign a portion of U.S. Route 219 in Garrett County. The 1.4-mile section of highway will be built between I-68 & Old Salisbury Road.

Thanks to funding provided by the Garrett and Allegany County Commissioners, The Greater Cumberland Committee's Regional Job Intern Bank is now up and running.

Learn about resources as you create your pathway to success.