Opportunity Zones

In This Section

    Team Leaders

    Team Leader


    What Are Opportonity Zones?

    Enacted as part of the Tax Cuts and Jobs Act of 2017, an opportunity zone is a designated economically distressed area, nominated by its respective state. These zones exist in parts of all 50 states, the District of Columbia, and five U.S. territories.

    The Opportunity Zones Program uses substantial tax incentives to:

    • Drive idle, unproductive capital into low-income communities.
    • Significantly benefit investors, asset owners, and communities.

    Are There Risks Associated With Opportunity Zone Investments?

    The risk that a bad investment is cloaked inside an Opportunity Zone investment is something investors must be wary of, as tax savings can be a very compelling reason to invest.  In the end, the investments within an Opportunity Zone must stand on their own.

    Careful planning and guidance by trusted advisors at the onset of any investment is key to reducing the risks associated with this and other investments.

    What Sets Us Apart

    Team members know the law and have critical government and corporate experience, including:

    • Selection of Opportunity Zones in West Virginia
    • Secretary, West Virginia Department of Tax and Revenue
    • Deputy Secretary and General Counsel, West Virginia Department of Commerce
    • Vice President, Huntington Area Development Council
    • Vice President and General Counsel of a regional bank
    • Member, Ohio Small Business Advisory Council
    How We Have Helped
    • Identification and development of opportunity zone investments
    • Opportunity fund formation and structuring
    • Compliance and related tax matters
    • Real estate acquisitions and sales
    • Business start-ups
    • Tax credit matters
    • Investor education
    What Sets Us Apart?
    • The Steptoe & Johnson Opportunity Zone Team is comprised of veteran attorneys across multiple disciplines who focus on tax planning, transactional services, and business development needs.
    • Our team consists of lawyers with years of tax, real estate, public finance, corporate, regulatory, and economic development experience that can assist with any stage of a transaction.
    • Team attorneys have closely followed the development of Opportunity Zones since inception, helped to nominate some zones, and have hosted educational sessions in West Virginia, Ohio, and Pennsylvania about their potential.   

    Team Members

    Tammie C. Alexander

    Member, Chair, Business Department

    Michael E. Flowers

    Member, Director of Diversity and Inclusion