Memphis/Millington Opportunity Zones
Millington Industrial Development Board
7965 Veterans Parkway, Suite 101
Millington, TN 38053
The Opportunity Zones program was established through the Tax Cuts and Jobs Act in December 2017.
It is a community development tax incentive program for private investors.
The program is designed to drive long-term capital to rural and low-to-moderate income urban communities throughout the nation, and uses tax incentives to encourage private investment in impact funds.
Investors are eligible to receive certain tax benefits on unrealized capital gains reinvested in Opportunity Zones through pooled Opportunity Funds.
Millington & Memphis Area Opportunity Zones
- This zone is comprised of two census tracts that make up the City of Millington.
- Millington is home to a US Naval Command Center and recently received $30 million through HUD’s National Disaster Resilience Competition for a 1,200 park to protect the naval base and low- to moderate-income communities from chronic flooding.
- The city and county recently established a TIF district within this zone.
Census tracts: 47157020210, 47157020300