Gov. Matt Mead has recommended 25 Wyoming neighborhoods and regions across for special tax benefits under the federal tax plan passed by Congress a few months ago.
The governor based his list off a proposal from the Wyoming Business Council, which worked with local economic development organizations and other groups to identify promising communities. If approved, individuals and companies would be allowed to defer taxes on earnings invested in the designated low-income areas until 2027.
The Wyoming Business Council’s ’s website shows that the tax benefit requires entering funds into an “opportunity fund” that holds at least 90 percent of total assets in one of the designated zones. The money can be invested in business, real estate, infrastructure and other projects.
Zones were required to have a poverty rate of at least 20 percent or a median family income less than 80 percent of the statewide number for selection.
The selected neighborhoods in Fremont County include eastern areas of Lander and Riverton, as well as Ethete, Fort Washakie, and Crowheart.