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​The Qualified Opportunity Zones are designated census tracts, which were nominated by the governors of every state and certified by the Treasury Department. Investors with capital gains in a particular tax year can invest their gains in Opportunity Zones through 2026, and receive favorable tax treatment as a result.
 

Opportunity Zones are a useful option for investors facing large capital gains taxes on any type of investment or asset. The program is designed to incentivize people to sell appreciated assets and productively deploy their capital in a manner that will significantly contribute to economic development. Instead of paying the tax on realized capital gains, investors may deploy their capital gains into Opportunity Zones, following IRS guidelines, and thereby achieve very substantial tax savings.

What Types of Tax Benefits Can Qualified Opportunity Zones Offer?  There are three benefits: (1) deferring payment of capital gains taxes that would otherwise be due, until 2026; (2) reducing those taxes by up to 15%; and (3) avoiding capital gains taxes altogether, on gains achieved with the funds invested into an Opportunity Zone. The three of these benefits together create a once-in-a-generation or maybe even an once-in-a-lifetime incentive worth studying carefully.

Palm Beach County's Business Loans, Bonds can further enhance an investment in an Opportunity Zone.  Information on both programs are outlined below.  Please contact Meri Weymer, Economic Development Director at (561) 233-3675 or mweymer@pbcgov.org or David Jaco, Economic Development Coordinator at (561) 233-3671 or djaco@pbcgov.org to discuss your project and learn more about the various resources available to support economic development in Palm Beach County . 

​Palm Beach County Business Loan Program

The Business Loan Program implements several loan funds to support a broad range of new and existing businesses located in Palm Beach County.  The Program:

  • Supports borrowers who are unable to access traditional lenders or receive favorable terms
  • Provides long-term fixed or variable rate financing at interest rates lower than conventional loans
  • Offers subordinated financing to borrowers to fill a financing gap between private lenders and equity investments.
  • Typically requires borrowers to make a cash or equity contribution of at least 10% of the toal project costs.

The Business Loan Program is designed to increase economic activity and create jobs in Palm Beach County by stimulating business development and investment. 

In general, only private, for-profit businesses with 2 or more years of operations are eligible to apply for a loan.  Eligible uses for loans include: real estate acquisition, construction or renovation, machinery and equipment, working capital, and lines of credit.

Business Loan Program Brochure
Business Loan Application Checklist
Business Loan Application ​

To learn more about available loans within the Business Loan Program, click here​

​Industrial Development Revenue Bonds

Industrial Development Revenue Bonds (IDBs) finance business and industrial expansions for firms with strong credit. IDBs can provide low-interest loans for large projects by permitting the borrower to take advantage of long-term financing with lower than prime interest rates.

Additionally, for certain types of manufacturing facilities, interest rates can be lowered further due to the tax-exempt status of the bond issue. Private parties purchase the bonds, in effect making the loan to the borrowing business.

Project Cost: IDBs may finance up to 100 percent of project costs, with loans up to $10 million available if the financing is tax-exempt. In the case of taxable bonds, no cap on the amount exists. Since significant legal costs are necessary with an IRB issue, projects should be at least $1 million in value to be cost effective.

Eligibility: The bonds are issued by Palm Beach County with principal, interest and other costs of the bonds paid solely by the beneficiary company. A company may not have participated as an owner or principal user in tax-exempt financing totaling more than $40 million nationwide.

 Applicants: To learn more, click here​