Passaic’s "Opportunity Zone" Program provides mutually beneficial opportunities serving both the investor and the public, giving developers the chance to play a major role in projects that drive economic growth and create job opportunities. The program is designed to incentivize long-term capital investments with an array of benefits.
Ready for Development & Growth
- The deferral of taxes on initial capital gains invested until 2026
- Potential for tax exemption if held for 10 years
- Reduction increased to 15% if the investment is held for 7 years
- A reduction of 10% if the investment is held for 5 years
Video About Opportunity Zones
There has never been a better opportunity for you to thrive financially and have a stake in the growing community of Passaic.
Take a moment to view our video on our Opportunity Zones. Have a front row seat to see, hear and appreciate all the redevelopment that Passaic is enjoying, and find out how you can be part of it.
You are invited to call and discuss your project with Joe Buga, Project Manager of our Enterprise Zone Development Corporation at 973-365-5507 or email Joe Buga.