The 2017 federal tax reform bill created a new investment tool named Opportunity Zones, which gives holders of capital gains certain tax breaks if they invest in projects that create economic opportunity within defined areas. Renville County has one designated Opportunity Zone, which overlies the Cities of Danube & Olivia, and surrounding area.
To take advantage of the tax breaks, holders of capital gains invest these assets into Opportunity Funds, which are listed below. It is also possible to create an Opportunity Fund to funnel capital into an individual project of interest to the funder.
Opportunity Zones provide the greatest benefit for longer term investment in the development of multi-family housing properties, as well as commercial buildings.
Renville County Opportunity Zone
Opportunity Zone Resources