Opportunity Zones

An idea hatched by Napster founder and early Facebook investor, Sean Parker, along with his friend, Steve Glickman, at the time a United States Treasury Department administrator, Opportunity Zones offer powerful tax incentives designed to attract venture capital to underserved markets throughout the US. Investment within a designated zone triggers deferment and partial forgiveness of taxes due on capital gains, and tax free appreciation from those investments. The Pix Company earned some of the earliest available experience with Opportunity Zone funds through its Fondren project and anticipates playing a lead role in future O-Zone investment throughout Mississippi.

MiSSiSSippi opportunity zones

Governor Phil Bryant designated 100 census tracts throughout Mississippi as Opportunity Zones. Investments of capital gains within the zones qualify for incentives. The zone designations are set for ten years and cannot be modified.

Real estate and operating businesses

While much of the early interest in O-Zone investment has focused on real estate, the most exciting incentive offered by the program is tax free appreciation after 10 years. Real estate appreciation can be predictable in some areas but a 10x plus return on an investment in a high-growth tech startup could transform a local economy.

fondren

The central business district and much of the residential area in Fondren are designated Opportunity Zones. It is exciting to have this transformative incentive available in our cherished neighborhood. The Pix Company will take valuable lessons learned from its alpha project into other areas of Mississippi while the O-Zone incentive is available.