NORFOLK, Va. — The City of Virginia Beach is recognizing eight different neighborhoods as its "Opportunity Zones," or areas where people can receive tax incentives for new investment.
Seatack, Burton Station, Central Village District, Bonney Road, Corporate Landing, Lynnhaven and Hilltop both south and north of Route 264 represent the eight designated areas.
The Virginia Beach Strategic Growth Area Office is leading the city's efforts to find 'investment-ready' projects and seek out potential investors.
Antione Smith, a mechanic in the Burton Station area, said he's thrilled by the plans to refocus on where he lives and works.
"With all this construction going on, that's means opportunity for businesses and we'll have a gold mine in this zip code," Smith said.
Smith says the area is primed for new business.
"We have a lot of retirees and other people coming here and this place is rocking," he said.
Seatack, an area with one of the worst poverty rates in the city, is another target for Virginia Beach. Neighbor Sharon Jeffries said the opportunity zone label is encouraging.
"I live here and to see it grow with prosperity is a good thing," she said. "Anything to help encourage more people to come here and, I guess, pay more taxes."
City leaders will discuss the Opportunity Zones in a meeting Tuesday afternoon.