Governor Rick Scott releases list of Jacksonville-area communities nominated to be 'Low Tax Opportunity Zones' under new tax law

Jacksonville, FL — It's designed to encourage long-term investment and job creation.

Florida Governor Rick Scott has released his list of 427 communities all across our state to be designated as 'Low Tax Opportunity Zones', under the Tax Cut and Jobs Act signed by President Trump late last year.

Those 427 communities, include areas of Baker, Clay, Duval, Nassau, and St. Johns counties, with 34 specifically in the Jacksonville-area.

Under the new tax law, areas designated as 'Low Tax Opportunity Zones' will allow reduced taxes for job creators and provide tax incentives for investors.

As for how these areas were chosen, Scott's office says a statistically model was created using census tract data and other economic statistics, like poverty level, unemployment rates, and population density.

The Executive Director of the Florida Department of Economic Opportunity, Cissy Proctor, released the following statement about the recommendations, "While Northeast Florida's economy continues to grow with new job creation and low unemployment, these new Opportunity Zones will target focused areas and bring jobs where they are most needed."

The US Department of Treasury now has 30 days to certify the 'Opportunity Zones' put forward by Scott or provide some further guidance to the state.

For a full list of areas nominated to be 'Opportunity Zones' click HERE.