Oklahoma to Use Enterprise Zones with Opportunity Zones

Tuesday, March 19, 2019 - 2:15pm

The Oklahoma Department of Commerce announced Monday that it will use priority enterprise zones (PEZs) created in the Oklahoma Enterprise Zone Act to attract capital to federal opportunity zones (OZs) in the state. Combining OZs and PEZs allows investors to potentially layer in other incentives with an OZ investment, including doubling the state investment tax credit, tax increment financing, low-interest loans from banks participating in a state program and capturing state sales tax if local areas have a match.