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State opportunity zone credits require full‑time jobs and plan-based designation
Summary
DCA said the state opportunity zone program provides tax credits for full‑time (35+ hours) jobs with health insurance offered and a wage floor; designations require a census block group with at least 15% poverty plus either an enterprise zone or urban redevelopment plan and last 10 years.
Haywood told the committee the state opportunity zone program differs from the federal program and centers on tax credits to businesses that create full‑time jobs. "On the state side, we have these $3,500 a year tax credits per job," he said, adding that the jobs must be at least 35 hours per week and health insurance must be offered to qualify.
DCA said communities must meet designation thresholds — a census block group with at least 15% poverty and either an enterprise zone or an urban redevelopment plan — and that state designations last 10 years. Haywood described the designation process as staff review by regional representatives, vetting at DCA and a joint meeting of the commissioners of community affairs and economic development before final decisions.
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