Congressman Steve Chabot has been meeting with local community leaders and organizations this past week about opportunities for local development through a new funding mechanism, opportunity zones. Enacted within the year-old Tax Cuts and Jobs Act, opportunity zones provide preferential tax treatment for certain investments made in designated localities with the goal of spurring economic development in distressed communities. Senators Tim Scott and Cory Booker were major proponents of opportunity zones as the tax debate unfolded. Each state was limited to the number of Qualified Opportunity Zones that could be designated. Chabot’ said his district – Ohio’s First Congressional District -has the third highest number of designated opportunity zones in Ohio with 28. There are over 8,700 total opportunity zones in the country. An opportunity zone property could consist of stock or partnership interest in a business located in a designated zone.