Press Releases

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced that it has designated Opportunity Zones in Virginia, including areas located in the Ninth District. As a result of the Tax Cuts and Jobs Act, new investments in communities designated as Opportunity Zones receive preferential tax treatment, encouraging growth and revitalization in areas facing economic challenges. Congressman Morgan Griffith (R-VA) issued the following statement:

“We passed the Tax Cuts and Jobs Act to help Americans across the board. Opportunity Zones are an important example of how tax reform benefits people who have been left behind. This designation encourages money for economic development to flow into the communities that need it most. I am hopeful that investment encouraged by the Opportunity Zone designation will lead to new jobs and economic growth.”

Among the census tracts designated as Opportunity Zones are locations in the Counties of Alleghany, Buchanan, Carroll, Dickenson, Giles, Grayson, Henry, Lee, Montgomery, Pulaski, Roanoke, Russell, Scott, Smyth, Tazewell, Washington, Wise, and Wythe, and the Cities of Bristol, Covington, Galax, Martinsville, Norton, Radford, and Salem.

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