Two Areas In Oconee County Selected For Opportunity Zones

(Seneca, SC)————–Oconee County has been awarded two Opportunity Zones, which were established under the Tax Cuts and Jobs Creation Act of 2017. Over 500 areas in the state were eligible but only 135 areas were seleted. That total included the two selected in Oconee, out of the several that Oconee County submitted. These areas are low income census tracts that were selected and then economic development offices could submit those tracts for designation to the state of South Carolina.

Two tracts that were selected was the Utica tract, which stretches from downtown Seneca to the Industrial Park on Shiloh Road and the Newry tract, which includes the old Newry Mill. 

The Opportunity Zones provide incentive for investors with capital gains to invest those gains in the zones for tax incentives to give the opportunity for those areas that need it the most to have capital in those areas.