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Cayuga Economic Development Agency, Auburn to hold federal program workshop

In coordination with the city of Auburn, the Cayuga County Development Agency will host an informational workshop on the new federal Opportunity Zones program.

The Opportunity Zones program is an economic development tool designed to spur long-time, private capital investment in distressed areas by providing tax benefits to investors. The northwest quadrant of Auburn is a Qualified Opportunity Zone.

This program provides tax incentives for those who invest their capital gains as equity for businesses or real estate projects within a designated zone. Investors can receive immediate tax breaks and can eliminate taxes on future capital gains if long-term investments are made.

This workshop is an opportunity for investors, developers, property owners, business owners, wealth advisors, accountants, tax professionals and anyone else who wishes to learn more about Opportunity Zones and their benefits.

The workshop will be presented by Michael N'dolo of Camoin Associates from 10 a.m. to noon Monday, March 4 at Auburn City Hall. To register for the workshop's limited seating, visit CEDA's homepage: http://www.cayugaeda.org/.

The Auburn Citizen:
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