What are Opportunity Zones?
Opportunity Zones are a federal program created by Congress in the Tax Cuts and Jobs Act of 2017 to encourage economic development and job creation in low-income urban and rural communities. The program provides federal tax reductions for taxpayers who invest unrealized capital gains into specialized “Opportunity Funds” which then make an investment in designated “Opportunity Zones.” The zones themselves are comprised of low-income community census tracts designated by governors in every state.
There are two eligible Opportunity Zones in Oconee County, SC.
Lake Keowee Opportunity Zone
- Single owner, 625 acre tract for sale on the Keowee River with views of Lake Keowee & Blue Ridge Mountains
- Zoned Unrestricted & open to mixed-use
- Adjacent to Clemson University, with over 20,000 students & events bringing in over 500,000 visitors each year
Historic Mill Hill Opportunity Zone
- Former JP Stevens Historic Mill
- 100,000 sqft mill on 27 acres adjacent to Downtown Seneca
- Seneca Rail Industrial Park
- 111 acres of county-owned industrial park served by Norfolk Southern Rail