Opportunity Zones (O-Zones) are designated areas targeted for economic development by state and federal governments.
If he or she invests in an O-Zone with funds triggered by a capital gain, an investor is eligible for special tax benefits on those capital gains.
The investor must invest in the O-Zone within 180 days of the capital gain event.
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- Example: Investor forms an LLC and the LLC purchases land, borrows and builds in O-Zone
- Example: Investor purchases 50% equity in an LLC formed to invest in a startup. LLC buys stock in an O-Zone based startup.
- These are vehicles for investors to invest capital gains and receive federal tax incentives. O-Funds are privately-managed funds that have at least 90 percent of their assets in O-Zones. O-Funds may invest in O-Zone real estate or tech startups based in O-Zones.
St. Mary’s County, Maryland offers coastal, country living in a high-tech world. With the most coastline of any county in Maryland and tobacco barns peppering the landscape, you can experience beautiful, bucolic landscapes and perfectly prepared raw oysters. St. Mary’s County is home to Naval Air Station Patuxent River, where $40 billion of Navy procurement, research, development, test and evaluation takes place every year. That brings a substantial base of highly-skilled engineers, lawyers, and other business professionals, as well as advanced manufacturing trades.
St. Mary’s is dedicated to growing its targeted industries: unmanned and autonomous systems, aviation and aircraft modification, advanced manufacturing, tourism, and aquaculture and agriculture.
The County and community are pushing to better attract and retain a young, talented and diverse workforce to support the growing and diversifying economy. This will happen by expanding the variety of housing options and accelerating the development of gathering places and walkable, denser arts and entertainment districts.
Lexington Park, sitting directly outside Naval Air Station Patuxent River where 25,000 enter every day, offers an incredible investment opportunity. The County, partnering with the St. Mary’s County Community Development Corporation, developed the Lexington Park Redevelopment District Master Plan. This Opportunity Zone coincides with that master plan.
The economic and community growth in Lexington Park is exciting.
Recent enhancements include:
Invest in Lexington Park today and be part of this area’s renaissance!