Opportunity Zones

Opportunity Zones were established under the federal Tax Cuts and Jobs Act of 2017,

to encourage long-term investments in economically challenged areas. These zones provide investors with valuable federal tax incentives when they reinvest capital gains into qualified properties or businesses located within designated Opportunity Zones.

A portion of Mt. Vernon, Illinois, has been designated as an official Opportunity Zone. This area was selected based on a range of economic indicators such as income levels, unemployment rates, and redevelopment potential. The goal is to stimulate economic growth, job creation, and revitalization in key areas of the community through private investment.

How Opportunity Zones Drive Economic Development

Opportunity Zones promote economic development by offering several potential tax advantages to investors:

• Tax Deferral: Investors may defer tax on prior gains by investing those gains in a Qualified Opportunity Fund (QOF) until the investment is sold or until December 31, 2026.
• Reduced Tax Liability: Holding the investment for more than five years results in a 10% exclusion of the deferred gain, which increases to 15% if held for more than seven years.
• Tax-Free Gains: Investments held for at least ten years are eligible for permanent exclusion from taxable income on any new gains realized from the Opportunity Fund investment.

These incentives help attract capital to communities that can benefit most from private reinvestment.

Mt. Vernon’s Opportunity Zone

Mt. Vernon’s federally designated Opportunity Zone encompasses much of the downtown area and extends along State Routes 37 and 15. This central corridor offers prime opportunities for commercial, residential, and mixed-use redevelopment with excellent access to transportation, utilities, and community amenities.

Click on the map below to view Mt. Vernon’s Opportunity Zone and explore investment opportunities within this growing district.

Why Invest in Mt. Vernon

Investing in Mt. Vernon’s Opportunity Zone means joining a community that values growth, collaboration, and long-term sustainability. With a supportive city government, available infrastructure, and a convenient location at the crossroads of Interstates 57 and 64, Mt. Vernon is a welcoming place for investors seeking both economic and community impact.

Learn More

To learn more about Mt. Vernon’s Opportunity Zone, available sites, or how to begin the application process, contact the Jefferson County Development Corporation. Their team can assist with site information, project planning, and available local and state incentives.