OPPORTUNITY ZONES, EB5, AND FOREIGN TRADE
Opportunity Zones are a federal tax incentive for private corporate and individual investors who put their capital to work in low-income communities. Investors can receive a temporary deferral for capital gains reinvested in an Opportunity Fund, a step-up in basis for capital gains reinvested in an Opportunity Fund if the investment is held for at least five years, and a permanent exclusion from taxable income of capital gains made within the Opportunity Fund when held for ten years. The State of Alaska is not able to provide tax advice, and interested investors should consult tax professionals to learn how they may benefit from this program.
Alaska’s statewide comprehensive economic development strategy identifies the Alaska EB-5 regional center to utilize EB-5 foreign investment to finance projects in high unemployment areas of Alaska. Alaska’s EB-5 zone is located in Midtown Anchorage. The State of Alaska works closely with the federal SelectUSA program and participate in targeted promotional activities that reach out to target investment markets.
Foreign Trade Zone
The Municipality is a grantee of Anchorage Foreign Trade Zone (FTZ) No. 160. Port of Alaska administers the Municipal foreign trade zone program that includes about 1,000 acres located at Port of Alaska, Ted Stevens Anchorage International Airport, and private sites throughout the Municipality. Foreign-trade-zone related inquiries should be directed to the Port Director at firstname.lastname@example.org or 907-343-6200.