New economic development program puts money back into Great Fall - KFBB.com News, Sports and Weather

New economic development program puts money back into Great Falls

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A new option will soon be available for those looking to invest in the Electric City. It will give investors a chance to help improve and revitalize downtown Great Falls.

Thanks to the 2017 tax cut and jobs act a new economic development program was created, establishing what is known as opportunity zones. 
The program allows private investors from all over the county to put money back into places like the Electric City.
It can be an investment in businesses, it can be into real estate and the money can come from capital gains liability from any other activity anywhere that a U.S. taxpayer has the liability.

No matter how you make money, you can choose to take part in the opportunity. Instead of paying the capital gains tax, you can choose to reinvest that money into the community, such as real estate or local, small businesses.

Brett Doney, Great Falls Development Authority said, "There are a lot of exciting things happening downtown both on the real estate side and business and we are here to help our entrepreneurs and developers grow. 

However, you can't sign up just yet, the program is still waiting on the Department of Treasury and the IRS to issue regulations.
In the meantime, the GFDA is continuing to find ways to bring new businesses into the electric city.
 

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