Opportunity Zones designated in Gaston County

Rep. McHenry briefs Chamber Board on new development tool

Monday, August 6, 2018

Seated with U.S. Rep. Patrick McHenry after the program are, Montcross Area Chamber Board Chair Carey Roberts (left) of Carey Roberts Design and Board Chair-elect Shannon Thomas of Creative Solutions Special Events. Standing (from left) are Gastonia City Manager Michael Peoples, Cramerton Commissioner Houston Helms and Cramerton Planning Director Josh Watkins, Belmont Mayor Charlie Martin, Cramerton Town Manager David Pugh, Chamber Board member Julie Roper of PSNC Energy, Dr. David Layne of Landmark MD and staff members Duwana Davis and Melissa McAtee, Lowell City Manager Kevin Krouse, Cramerton Commissioner Susan Neeley, Lowell Mayor Sandy Railey, Chamber Board member Robert Larrison of Atrium Health, Chamber Board Secretary Melia Lyerly of Lyerly Agency, Chamber Board Past Chair Bill Ingram of Regions Bank, Cramerton Commissioner Donald Rice and Stanley Town Manager Heath Jenkins.

9 Opportunity Zones identified in Gaston County

U.S. Rep. Patrick McHenry came to Belmont last week to talk with the Montcross Area Chamber Board of Directors and other guests about a new national “Opportunity Zones” program. 

The purpose of opportunity zones is to encourage growth in low-income and rural communities across America by providing a tax incentive for private investors to make long-term investments in communities which face economic hardships. To qualify as an opportunity zone, an area must have a poverty rate of 20 percent or higher or a median household income that is less than 80 percent of the surrounding area. 

The program provides a tax incentive for investors to reinvest unrealized capital gains into “opportunity funds,” which are dedicated to investing into small businesses and economic development in opportunity zones. 

Nine opportunity zones have been designated in Gaston County, including the FUSE District in Gastonia, zones in Lowell and Cramerton and a business park in Bessemer City. 

The meeting took place at the Kimbrell Campus of Gaston College, and Landmark MD of Belmont sponsored the lunch, which was provided by Nellie’s Southern Kitchen. Dr. David Layne of Landmark MD spoke also about his innovative direct primary care practice. (See related story on Landmark MD.)

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