As requested by FEDA and the Martin County EDA, Governor Dayton designated a census tract that is located in the City of Fairmont as an Opportunity Zone. Opportunity Zones are a new community development program that was established by Congress in the Tax Cut and Jobs Act of 2017 to encourage long-term investments in low-income communities. Investors are eligible to receive a temporary tax deferral for capital gains invested in an Opportunity Fund and a permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified opportunity zone fund if the investment is held for at least 10 years.

Opportunity Zones Frequently Asked Questions