Halifax County, NC Opportunity Zones

A tool to stimulate investment in Halifax County

Opportunity Zones are an economic development tool enabled by the Tax Cuts and Jobs Act of 2017 and designed to encourage long-term investments in certain lower-income areas of Halifax County.

The Opportunity Zone Program provides federal tax incentives for investors to re-invest unrealized capital gains into Opportunity Funds that are dedicated to investing in economically distressed areas.

Specifically, the Opportunity Zone Program provides deferral and reduction of capital gains taxes when the gain is invested in a Qualified Opportunity Fund and maintained for at least 5 years. Additional tax incentives are available for investments held for periods of seven years and 10 years.

The program is designed to be flexible and allows for a range of different types of investments. Unlike other federal tax credit programs, there is no authorized cap on the amount of capital that can be made available through Opportunity Zone investments.

In Halifax County, census tracts in the Roanoke Rapids and Enfield areas have been designated as Opportunity Zones that offer tremendous potential for investment in housing, commercial and industrial development. Click here for an overview of investment opportunities in the Roanoke Rapids opportunity zone.  Click here for an overview of investment opportunities in the Enfield opportunity zone. A map of these census tracts is provided below:

Opportunity Zones 2.0

Halifax County has completed review and prioritization of Opportunity Zones 2.0 nominations, identifying three census tracts that best align with North Carolina’s economic development priorities and offer the strongest potential for transformative investment in the county. After evaluating all eligible census tracts in Halifax County, local leaders recommended Census Tracts 9310, 9301, and 9309.2 for designation as Opportunity Zones. Based on the state’s guidance, these tracts provide the best combination of existing infrastructure, development momentum, industrial readiness, and realistic opportunities for private investment and job creation.

• Census Tract 9310 emerged as the county’s top recommendation due to its concentration of major economic assets and industrial development opportunities. The tract includes the US 301 Industrial Site, one of North Carolina’s SelectSites, the Halifax Corporate Park, Halifax-Northampton Regional Airport, and several major employers including Binderholz, Reser’s Fine Foods, Don Pancho Authentic Mexican Foods, and PCB Piezotronics. The area also includes available housing sites and development-ready land positioned along the US 301 corridor.
• Census Tract 9301 was prioritized because of its established industrial and commercial base and its strategic location near Interstate 95. The tract includes portions of the Town of Weldon, the Roanoke River area, Roseburg Forest Products operations, Becker Industrial Park, a portion of Roanoke Rapids, including the Carolina Crossroads Entertainment District, hotel developments, and multiple housing and redevelopment opportunities.
• The county’s third recommendation, Census Tract 9309.02, centers around the Enfield area and the I-95 Exit 154 corridor. The tract includes industrial employers, tourism and RV-related development, agricultural businesses, and future housing and commercial growth opportunities. Local leaders believe the tract’s location along Interstate 95 creates long-term investment potential for both industrial and commercial expansion.

Additional information regarding the Opportunity Zone program can be found at the following links:
Interactive Eligible Opportunity Zone Map
General Information Regarding Opportunity Zones from the Internal Revenue Service