Chick-fil-A Growth in Puerto Rico Aided by Extended Tax Benefit

Puerto Rico is increasing local tax incentives for opportunity zone projects, including a major expansion by Chick-fil-A Inc., which tax policy analysts say is an unusual beneficiary for a program meant to spur economic development.

Over the past two years, the US territory has accelerated opportunity zone tax incentives through a program modeled after the federal effort to boost investment in low-income areas, and will continue offering subsidies even after the 2017 federal tax law provisions that created opportunity zones expire next year.

Carlos Fontán, incentives director at the island’s Department of Economic Development and Commerce