Highlighting Opportunity Zones in North Carolina's Fifth District

Floor Speech

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Ms. FOXX. Mr. Speaker, I rise to highlight the recently designated opportunity zones in North Carolina's Fifth District. Last month, the U.S. Treasury approved 22 opportunity zones in North Carolina's Fifth District as part of the Tax Cuts and Jobs Act. Referring to areas with untapped economic potential, The New York Times called the provision ``the first new substantial Federal attempt to aid those communities in more than a decade.''

With new incentives for long-term capital investment, opportunity zones allow State and local governments to facilitate increased economic development in rural and suburban areas often overlooked for new investments as companies are drawn to thriving metropolitan areas.

Thanks to the tax cuts and regulatory relief delivered by this united Republican government, the American economy is booming, and opportunity zones will spread that prosperity to communities in need of new capital to create wealth and grow.

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