DAVENPORT, IOWA (August 9, 2019) — The Quad Cities Chamber, in collaboration with the City of Davenport, will host a free educational luncheon and seminar regarding the new Opportunity Zone federal tax-incentive from noon to 1PM, Wednesday, August 28, at Me and Billy, 200 W 3rd Street in Davenport. The seminar will feature Kyle Day, attorney with Lane and Waterman,LLP, who will present on how to harness this unique new incentive and maximize its impact.
From capital gain deferral/elimination to leveraging additional investment in real-estate and businesses, the federal Opportunity Zone incentive provides a powerful new tool for development projects in the Quad Cities. Established by Congress, Opportunity Zone tax-incentives under Section 1400Z of the Internal Revenue Code allow investors to defer, reduce, and eliminate capital-gains that are reinvested in qualified opportunity funds that hold at least 90% of fund assets in business or property located in designated Opportunity Zones.
The Quad Cities region has ten Opportunity Zones with industrial, commercial, and residential investment opportunities. The ten zones are located in Davenport, Muscatine, and Clinton, Iowa, and Rock Island and Kewanee, Illinois.
The seminar is ideal for those in wealth and financial management, real estate development, business development and anyone with an entrepreneurial spirit. A new investor prospectus will also be unveiled at the event to highlight the Quad Cities region’s assets and advantages. The event was made possible via collaboration of the Quad Cities Chamber and City of Davenport with support and sponsorship by Lane and Waterman LLP. While there is no cost to attend, early registration is recommended as space is limited. Register at www.quadcitieschamber.com via the Events Calendar.
