Lt. Gov. Rutherford to lead summit in Salisbury

Lt. Gov. Boyd K. Rutherford, with the Maryland Opportunity Zone Leadership Task Force, will host an Eastern Shore Regional Summit on Thursday.

Boyd Rutherford.

The event will be at 4:30 p.m. on Thursday, March 14, at the Truitt Street Community Center.

Chaired by Rutherford, the Task Force was formed to develop a state opportunity plan to “align Opportunity Zone goals with state and local economic and cultural priorities,” according to Rutherford’s office.

The regional summit will allow those attending to share information and discuss possibilities for Opportunity Zones in their area.

The Opportunity Zone program is a nationwide initiative administered by the U.S. Treasury.

Created under the 2017 Tax Cuts and Job’s Act., it provides federal tax incentives for investment in distressed communities during the next 10 years.

Areas designated as Opportunity Zones will be able to reap the benefits of capital gains to help redevelop underserved communities.

Developed by the Maryland Department of Housing and Community Development, the program is the first comprehensive, interactive resource of its kind in the nation.

The Information Exchange is a virtual meeting place for investors, fund managers, property developers, new or expanding businesses and local stakeholders.

It provides the latest Opportunity Zone news and investment activity; a locator for projects and businesses; and information on financial and other incentives available at the state, county and municipal level.

Anyone can search and find what’s happening in Maryland’s Opportunity Zones through the Information Exchange on the maryland.gov website.

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