Attorneys & Professionals
Scott Ziance, a partner in the Vorys Columbus office, was recently quoted in a Columbus Business First special report on Qualified Opportunity Zones (QOZs). The report featured a Q&A with real estate and economic development professionals on the basics of QOZs.
One of the questions posed to Ziance was “where are the stongest opportunities?” Ziance answered this way:
“The most significant benefit associated with the Opportunity Zone program is the elimination of capital gains tax on long-term investments in Opportunity Zones. Thus, the Opportunity Zones that will see the most activity are those in which investors have the best opportunities for capital gains. Such Opportunity Zones will probably be those that contain areas on the verge of change, or that are in the early stages of change. As a result, the communities that are undergoing development, but need a push to keep the momentum going, will likely be quality targets for investment.”
You can read the entire Special Report in the July 19, 2019 edition of Columbus Business First.