Barry Farm Nominated for Federal Opportunity Zone

On April 25th, Mayor Muriel Bowser announced the nomination of 25 census tracts, including Barry Farm, to become “Opportunity Zones.” Opportunity Zones are eligible for a new federal program that provides tax incentives for investments in new businesses and commercial projects in low-income communities. The Opportunity Zones program was established by the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. The incentive could help promote investments in new public infrastructure, affordable housing, businesses and capital improvements.