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Riverhead, Brookhaven towns to host investor workshops on Opportunity Zones

Buildings under construction on Straight Path as the

Buildings under construction on Straight Path as the Wyandanch Rising Project on Nov. 20, 2014. Photo Credit: James Carbone

Free workshops will be held this week in Riverhead and Brookhaven towns for investors interested in participating in the Opportunity Zones program, a new antipoverty initiative established last year.

Accountant Paul Gevertzman of Anchin Accountants & Advisors in Manhattan will discuss the tax advantages of investing in a zone. Private investors receive tax incentives if they reinvest their profits into businesses located in low-income areas under the program, created by the 2017 federal Tax Cuts and Jobs Act.

Gevertzman will speak on Wednesday at noon at the Hotel Indigo East End in Riverhead and on Thursday at 8:30 a.m. at Brookhaven Town Hall in Farmingville.

The workshops have been jointly organized by the industrial development agencies in Brookhaven and Riverhead, said Lisa M.G. Mulligan, CEO of the Brookhaven IDA.

To RSVP, call 631-451-6563 or send an email to talkon@brookhavenny.gov.

The federal government designated 10 Opportunity Zones on Long Island earlier this year. The local zones consist of two census tracts each in Hempstead Village and Riverhead Town, and one each in Central Islip, Glen Cove, Huntington Station, Long Beach, North Bellport and Wyandanch.

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