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<br /> <br /> <br />Wil Okabe <br /> <br />Managing Director <br /> <br /> <br />Harry Kim <br />Mayor <br /> <br />Barbara J. Kossow <br /> Deputy Managing Director <br /> <br />County of Hawai‘i <br />Office of the Mayor <br />25 Aupuni Street, Suite 2603  Hilo, Hawai‘i 96720  (808) 961-8211  Fax (808) 961-6553 <br />KONA: 74-5044 Ane Keohokālole Hwy., Bldg C  Kailua-Kona, Hawai‘i 96740 <br />(808) 323-4444  Fax (808) 323-4440 <br /> <br />February 4, 2019 <br /> <br />NEWS RELEASE <br /> <br />Hawai‘i County Introduces Opportunity Zones Tax Incentive Program <br /> <br />Hawai‘i County is introducing a new federal tax incentive program, Opportunity Zones, in Hilo <br />and Kona, which offers tax benefits designed to attract private investment and stimulate <br />economic growth in disadvantaged areas. <br /> <br />Enacted in Congress through the Tax Cuts and Jobs Act of 2017, this new incentive offers tax <br />benefits to individuals and businesses when they invest capital gains from a prior investment <br />into Opportunity Funds that deploy capital into designated zones. <br /> <br />Hawaiʻi County has Opportunity Zones in Hilo and Kona. Maps of those zones and more <br />information about the program is available at https://invest.hawaii.gov/hawaii-opportunity- <br />zones/. <br /> <br />The program will be explained at workshops on February 21, 2019 on both sides of Hawai‘i <br />Island. Please register in advance for these workshops. There is no cost to attend. <br /> <br />HILO <br />Thursday, February 21, 8:30 a.m. to 10:30 a.m. <br />Hilo Municipal Golf Course Multipurpose Room <br />340 Haihai Street, Hilo <br />REGISTER HERE <br /> <br />KONA <br />Thursday, February 21, 2:00 p.m. to 4:00 p.m. <br />West Hawai‘i Civic Center, Council Chambers <br />74-5044 Ane Keohokalole Hwy <br />Kailua-Kona <br />REGISTER HERE <br /> <br />During the workshops, local and national experts will focus on what we know so far about how <br />this new tax incentive can be used, and the roles that regional stakeholders can play to ensure <br />the benefits of this investment vehicle are broadly shared. <br /> <br />This event is co-sponsored by the County of Hawai‘i; Hawai‘i Small Business Investment <br />Center; Hawai‘i Department of Business, Economic Development, and Tourism; Hawai‘i <br />Community Reinvestment Corporation; Local Initiatives Support Corporation; and the Federal <br />Reserve Bank of San Francisco. <br />County of Hawai‘i is an Equal Opportunity Provider and Employer. <br /> <br />