Tuesday, 11 December 2018 12:59

Lincoln sets up Opportunity Zones for businesses

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LINCOLN - The town of Lincoln  is among the first in the state to set up Opportunity Zones for businesses.

Opportunity Zones are set up within the federal tax code to help people invest money in businesses in distress.

 

Lincoln Town Manager Rick Bronson said the town is setting up a fund to draw investments in new businesses that could employ people in Lincoln.

 

"We have a former paper mill to replace and we need to replace the jobs, we need to replace the tax income and we need to clean the former mill sites," he said.

 

The town council was expected to vote on the Opportunity Zones on Monday night. 

National News