A Kentucky Opportunity Zone is a low-income U.S. Census tract that encourages individuals and corporations to invest in a variety of economic development projects through “Opportunity Funds”. Opportunity Zones were created by Congress to encourage long-term investments in low income urban and rural communities nationwide. The long-term objective of the Opportunity Zone program is to build wealth in communities that need it most and to save money for participating investors by reducing their federal capital gains taxes.
The Lake Cumberland Regional Industrial Complex Site 1 is entirely located within Russell County's Opportunity Zone. The RCIDA can help you with additional incentives for locating your business or industry in Russell County.