U.S. Treasury Designates 2 Additional Opportunity Zones in Puerto Rico
SAN JUAN – The U.S. Department of the Treasury announced that it has accepted to designate two additional Qualified Opportunity Zones (QOZ) in Puerto Rico at the request of Gov. Ricardo Rosselló.
QOZs are low-income communities that receive eligible tax benefits that attract investment, leading to job creation that can jump-start local economies.
Census Tract No. 721191301, located in Río Grande, includes the Coco Beach Golf Resort and Residences, a project that is still under development and is expected to bring hundreds of jobs to the region.
“We thank U.S. Treasury Secretary Steven Mnuchin for his unwavering support throughout our recovery and reconstruction,” Rosselló said, “and we look forward to continuing to work with him so that the entirety of our territory is deemed a Qualified Opportunity Zone in accordance with the spirit of the law and the intentions of the U.S. Treasury and the Trump administration.”