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CHARLESTON, SC—Savvy investors and civic-minded individuals alike are taking a close look at Opportunity Zones, a new investment tool that allows investors to invest capital gains into community improvement projects in distressed areas. Womble Bond Dickinson attorney Stephanie Yarbrough recently spoke about opportunity zone investments with South Carolina Lawyers Weekly.
Yarbrough said that Opportunity Zones have tremendous potential benefits. However, she said investors need to ensure that these deals are appropriately structured before committing pen to paper.
“If they’re working on a transaction where an investor is going to sink a bunch of assets into an Opportunity Zone, it’s wise to contact an Opportunity Zone attorney and talk about where that money came from and discuss creating an opportunity fund,” Yarbrough tells South Carolina Lawyers Weekly. “I think the working knowledge to call pause and contact that attorney could be extremely beneficial, because what a happy client you’re going to have if you have a client who’s going to deploy a bunch of assets into an Opportunity Zone, and you were able to flag the issue in a timely manner so they receive a benefit from that.”
Click here to read “In the Zone: How One New Law is Creating Opportunities Aplenty” in South Carolina Lawyers Weekly (subscription required).
Yarbrough also recently spoke with Area Development on Opportunity Zone issues and opportunities.
Stephanie Yarbrough has played a role in many of South Carolina’s largest economic development deals of the past 20 years. She works closely with companies seeking to expand or relocate operations to the Carolinas and the Southeastern United States. Her efforts on behalf of clients have led to the creation of thousands of new jobs and billions of dollars in new investments. When the New York Times profiled Charleston’s economic boom in 2017, Yarbrough was one of the local leaders the Times turned to for insight.
