Sussex County looking for businesses to invest in opportunity zones
SUSSEX COUNTY, Del. – In an effort to bring more revitalization efforts to towns in Sussex County, officials are revealing a tool that could help bring redevelopment to areas in the county that need it.
It’s called opportunity zones which are federally designated areas that have room for growth and revitalization. Delaware has 25 of them and five are located in Laurel, Seaford, Milford, and Georgetown.
They’re zones that also happen to be located within the state’s downtown development districts, which have incentives for investors.
“It’s an economic development tool for communities that have experienced economic downturns and it’s a way for investors to invest in these communities and begin to lift them up. So it’s a huge opportunity for tax credits to, from a business owners standpoint, to invest in these communities,” explains Bill Pfaff, Director of Sussex Co. Economic Development.
Those interested in investing in these areas or learning more are in luck. Sussex County is hosting a free event on opportunity zones next Friday March 22nd at DelTech at 8:30 a.m.
To register for the free workshop, visit this website. For additional information, contact the County’s Economic Development office at (302) 855-7770.