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The Cayuga Economic Development Agency, in partnership with the City of Auburn, hosted an informational workshop about the new federal Opportunity Zones program on Monday, March 4, from 10:00 a.m. to noon at Auburn City Hall. The program is an economic development tool designed to spur long-term, private capital investment in distressed areas by providing tax benefits to investors. In Cayuga County, the northwest quadrant of the City of Auburn is a Qualified Opportunity Zone.

This new federal program provides tax incentives for those who invest their capital gains as equity for businesses or real estate projects within a designated zone. They receive an immediate tax break, and can eliminate tax on future capital gains, if they make a long-term investment.


For more information contact:

Tracy Verrier

Executive Director

Cayuga Economic Development Agency, Cayuga County Chamber of Commerce

CEDA phone: (315) 252-3500 email: tverrier@cayugaeda.org