With input from local governments, Salt Lake County has sent to the governor a list of 16 poor and underdeveloped areas that could benefit from a new federal tax incentive to spur investment and suggested that the governor look at 10 more.
The areas, designated low-income communities based on census data, would qualify as “Opportunity Zones” under a program included in last year’s federal tax cuts. It would let big institutional investors such as banks defer capital gains and earn tax-free interest by putting their money into housing and business development efforts within the zones.
Overall, Utah had 181 census-designated areas that qualified, 64 of them in Salt Lake County.