Little Falls Opportunity Zone

Opportunity Zones are specific census tracts (roughly 20% of each state) nominated by the Governor of each state that qualify for investment in business or property through Qualified Opportunity Funds.
  • Population: 2,125
  • Total Businesses: 124
  • Total Jobs: 1,694
  • County: Herkimer
  • State: NY

How They Began

On December 22, 2017, a new tax incentive program was enacted to unlock 6 trillion dollars in unrealized capital gains and promote investments in certain economically distressed communities known as Opportunity Zones.

If you have invested in stocks, real estate or other assets that have appreciated in value, historically you cannot sell those assets without paying huge taxes. Now, by investing in a qualified opportunity fund you can sell your appreciated asset and temporarily defer your original capital gain until 2026. You’ll also be able to reduce your capital gains expense and have the ability to permanently exclude capital gains from the appreciation yielded from your investment into the qualified opportunity fund.

Download the Beginners Guide to Opportunity Zones

Little Falls Opportunity Zone Map

Value to Investors
Opportunity Zones provide three distinct benefits to investors…
1) Deferral
Investors can defer tax on any prior gains invested in a Qualified Opportunity Fund until the investment is sold or December 31, 2026 – whichever event comes first.
2) Reduction
The tax obligation on capital gain that has been moved into a Qualified Opportunity Fund will be reduced. If the investment is held for 5 years it will see a 10% reduction, and at 7 years the reduction on the tax obligation of that initial investment will be 15%.
3) Exclusion
If the investment in the Qualified Opportunity Fund is held for at least 10 years, all accrued gains from the fund are exempt from taxation.

Potential Projects

Rethink

Our Downtown Revitalization Initiative (DRI) is about rethinking the heart of Little Falls as an integrated district and seeking bold, innovative opportunities to propel the City into the most desirable residential community in the region…attracting a diverse population supported with commercial and residential development, quality-of-life amenities, redevelopment of historic properties, and a tax base that provides sustainable prosperity for future generations.

Rebuild

When you consider the City’s 2,445 acres of prime real estate with assets like the 19th-century iconic downtown, the picturesque Mohawk River’s whitewater rapids, the Erie Canal, running through the center, it’s easy to visualize how these treasured resources hold the key to rebuilding our community. With twenty proposed DRI projects, the City is well-positioned to support visitors, residents as well as businesses seeking a safe, healthy, small city lifestyle for their families and employees.

Reconnect

Actualizing our DRI vision requires reconnecting infrastructure that once connected neighborhoods to the downtown waterfront district. A priority project is a “Pedestrian Overpass Bridge” connecting downtown to Canal Place and the waterfront, allowing safe pedestrian transit over Highway 5 and the railroad tracks. Another is an e-mobility project with e-bike and e-scooter stations on Main Street, Canal Place, and the Harbor allowing people to access key attractions.

Contact Us

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590 Garden St Little Falls NY 13365

+01 315 508 5310

info@invest13365.com