CCEDC: Recruiting New Business with Professional Hospitality
Both of Covington County’s industrial parks are within Opportunity Zones. Opportunity Zones were created in 2017 when the new Tax Cuts and Job Act was implemented. They are designed to spur economic development in less-developed and under-invested communities by providing tax benefits to investors. Now is a perfect time to invest in Opportunity Zones because capital gains taxes on earnings from many types of investments can be deferred until December 31, 2026.