Opportunity Zone in Upland
Opportunity Zones are designed to spur economic development by providing tax benefits to investors. The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a mechanism to provide tax incentives for investment in designated census tracts. Investments made by individuals through special funds in these zones would be allowed to defer or eliminate federal taxes on capital gains.
The City of Upland has one Opportunity Zone, which is bordered by Benson Avenue on the west, Foothill Boulevard and 11th Street on the north, San Antonio Avenue and Mountain Avenue on the east, and 9th Street on the south, as identified in the map below. Please review the attached City of Upland Opportunity Zone Investment Prospectus. Please join the conversation on the sponsored digital platform for current deals, available RFPs, and further business investment opportunities at: HTTPS://OPPSITES.COM/CITIES/UPLAND-CA
Please click on the following resource links to learn more about Opportunity Zones:
Internal Revenue Service (IRS): https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions
State of California Department of Finance: https://dof.ca.gov/Forecasting/Demographics/opportunity_zones/
State of California Opportunity Zone Portal: https://opzones.ca.gov/
California Association for Local Economic Development (CALED): https://caled.org/opportunity-zone-resources/
For inquiries in regards to properties within the Opportunity Zone in Upland, please contact Upland’s Development Services Department at (909) 931-4317.