Go-Zone

The Gulf Opportunity Zone Act of 2005, signed into law by President Bush on December 21, 2005, contains significant economic incentives to rebuild the Gulf Coast, as well as to attract new investments to the affected areas.  Modeled after the Liberty Zone incentives created after the 9-11 disaster, these incentives are intended to stimulate investment within the Gulf Opportunity Zone (GO ZONE) within the window provided.  The GO ZONE includes counties in Alabama (including Baldwin County), Louisiana and Mississippi.

These economic incentives are so signifant that any business (especially if that business qualifies as a real estate professional business) considering an investment in any new replacement or expanded operations, buildings or equipment within the GO ZONE should consider how to employ these incentives to fullest extent possible.

There have been extensions in certain areas for the Go-Zone and can be reviewed at: http://www.irs.gov/publications/p4492/ar02.html#d0e278