<div>MONROE – Starting Jan. 1, 2027, investors who put money into new development in parts of Monroe, including the Winchester and Concord Avenue areas, can qualify for federal tax breaks. The incentive comes from a new round of federal Opportunity Zones and is meant to encourage developers and businesses to build and renovate in areas that haven't seen as much private investment.Gov. Josh Stein announced Nov. 5 that the U.S. Department of the Treasury approved 204 areas across North Carolina, including Monroe census tracts 204.05, 204.06 and 206.01.The three Monroe areas are the city's Winchester and Concord Avenue redevelopment areas and the Smart Site located in the Sutton Park area."This is exciting news for Monroe," City Manager Mark Watson said. "These designations give us another way to encourage private investment and bring new development to our community. We are particularly pleased that the Winchester and Concord Avenue redevelopment areas are included because both areas are part of the city's ongoing revitalization efforts."The city's Office of Economic Development submitted Monroe's request through the N.C. Department of Commerce as part of the nomination process, identifying eligible tracts that line up with the city's economic development and redevelopment priorities."We made it a priority to ensure Monroe was considered for this round of Opportunity Zones," said Teresa Campo, economic development director for the City of Monroe. "Monroe's designations can help attract developers and investors to areas where additional investment can make a difference. They give us another opportunity to work with property owners, businesses and investors on projects that can bring jobs and new economic activity to Monroe."The new designations take effect Jan. 1, 2027, and last 10 years. The original Opportunity Zones, created in 2018, remain in effect through Dec. 31, 2028, allowing for a transition period between the two cycles. Opportunity Zones are a federal program designed to encourage long-term investment in economically distressed communities. Under the program, investors who put capital gains (profits from selling stock, property or other assets) into Qualified Opportunity Funds that invest in designated areas can delay or reduce the federal taxes they owe on those gains. "Designation doesn't guarantee investment, but it can help draw attention to properties and redevelopment sites," Campo said. "Our office will keep working with prospective investors and property owners to identify opportunities that fit the city's economic development goals."Where are the Opportunity Zones?The North Carolina Department of Commerce has an interactive map of all approved Opportunity Zones in North Carolina at commerce.nc.gov/2026-opportunity-zone-designations.</div>

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MONROE – Starting Jan. 1, 2027, investors who put money into new development in parts of Monroe, including the Winchester and Concord Avenue areas, can qualify for federal tax breaks. The incentive comes from a new round of federal Opportunity Zones and is meant to encourage developers and businesses...

Monroe sites designated for Opportunity Zone

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MONROE – Starting Jan. 1, 2027, investors who put money into new development in parts of Monroe, including the Winchester and Concord Avenue areas, can qua

Monroe sites designated for Opportunity Zone

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