The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a mechanism to provide tax incentives for investment in designated census tracts. Investments made by individuals through special funds in these zones would be allowed to defer or eliminate federal taxes on capital gains. The unincorporated area of the county has two Opportunity Zones located in the Pleasure Point and Live Oak areas and the City of Santa Cruz has two Opportunity Zones located in the downtown and beach flats area. Please see the map that is provided below. More information on this program is provided by the State of California’s Opportunity Zone website.