Section Of Boone Designated NC Opportunity Zone (2018-05-25 17:03:55)

A 4 square mile tract of land that runs from East King Street through the Boone medical district down to Payne Branch Road has been designated as a North Carolina Opportunity Zone.

The Watauga Democrat reports the designation means the stretch is now eligible for federal tax incentives for developers as outlined in the The Tax Cuts and Jobs Act, passed by congress last year. It creates a tax benefit for qualified investors that re-invest capital gains into the Opportunity Zones and avoids standard capital gain taxes. According to the report the area is in Boone town limits east of Blowing Rock Road/Hardin Street and Rocky Creek Road, south of U.S. 421 and west of the Boone Greenway, and includes New River Heights, the Greenway, Watauga High School, the Recreation Complex, Shadowline, Watauga Village and the area down Payne Branch Road.