Opportunity Zones

person speaking at a podium The Opportunity Zones incentive is a new community investment tool established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. Opportunity Zones provide a tax incentive for investors to re-invest their unrealized capital gains into dedicated Opportunity Funds.

Learn more about how the Opportunity Zone incentive works. Read the Empire State Development March 2019 presentation, and the June 2019 presentation and flyer from Ferrandino and Associates.

Search areas in Westchester County designated as Opportunity Zones.

Get more information from the U.S Department of Treasury Opportunity Zone Guidance.

Our Incentives

Westchester County’s various incentives help support startups, assist not-for-profits, and promote economic development through creating, attracting and retaining jobs, and more.

Industrial Development Agency

Sales tax exemptions on new construction, expansion or renovation projects, or the acquisition of new equipment, and more help companies grow and prosper.

Local Development Corporation

Since its inception in 2012, we’ve assisted not-for-profit organizations in securing tax-exempt bond financing benefits totaling over $400 million—at no cost or risk to the taxpayers of Westchester County.

Our Programs

Westchester County offers programs and services to assist and incentivize businesses.

Element 46 Incubator

The new Element 46 Incubator program kicked off in 2019 to inspire and support entrepreneurial talent and the development of new businesses in the County. Nearly a hundred business leaders will serve as mentors to startups, offering their expertise, time, and support.

Minority and Women-Owned Business Program

Westchester works to encourage, promote and increase participation of business enterprises owned and controlled by persons of color or women.

Opportunity Zones

This new community investment tool established by Congress in 2017 encourages long-term investments in low-income urban and rural communities nationwide.

Service-Disabled Veteran - Owned Business Program

Westchester encourages and supports eligible SDVOBs to play a greater role in the state's economy by increasing their participation in New York State's contracting opportunities.

Disadvantaged Business Program

This federally regulated program provides a vehicle for increasing the participation by small businesses owned and controlled by socially and economically disadvantaged individuals.

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