Opportunity Zones might unblock rural America's potential

Buried more than 300 pages into the late December tax overhaul signed by President Donald Trump is what some officials think might be a route to economic prosperity for rural America. A community development program written into the Tax Cuts and Jobs Act of 2017, these so-called “Opportunity Zones” are designed to encourage long-term private investments in low-income areas by providing federal tax incentives. South Carolina is among the first states in the country to submit a list of designees to the U.S. Department of the Treasury, offering 135 such zones — with at least one in each county. Under guidelines of the program, states can identify 25 percent of their low-income Census tracts for inclusion as an “Opportunity Zone.” Anything that local governments can do to facilitate local businesses and encourage private investment into low-to-moderate income areas is always a positive thing. Our recent designation shows how local long-range planning and cooperation between various agencies sets us above other communities in the designation process.