New Scrutiny for the Federal 'Opportunity Zones' Program
A growing number of articles have been published in the past several weeks and days scrutinizing the potential impact of the new Opportunity Zones program, created by the GOP tax reform bill of 2017 to provide new economic development opportunities for struggling communities across the density spectrum.
The deadline for governors to submit economically distressed communities for eligibility in the Opportunity Zones program came and went on March 21, with states like Ohio, Texas, and South Carolina making news for their selections. With that major benchmark in the program past, more media outlets are beginning to ponder the potential consequences of the program. Here's a roundup of recent and relevant news and commentary:
- Maximizing the impact of new Opportunity Zones requires transparency and citizen engagement (Brookings, April 16)
- Why Entrepreneurs of Color Are Struggling (CityLab, April 23)
- New Redevelopment Tax Incentive Program Starting to Take Shape (Next City, April 23)
- A New Tax Break for Poor Neighborhoods Could Benefit Luxury Developers (Bloomberg BusinessWeek, April 23)
- The Obscure Tax Program That Promises to Undo America's Geographic Inequality (CityLab, April 25)
- With $6 Trillion In Potential Investment On The Line, Opportunity Zones Begin To Take Shape (Bisnow, April 25)
Opportunity360, created by Enterprise Community Partners, has also created an interactive map it's calling the "Opportunity Zone Eligibility Tool" that shows which census tracts have been designated by governors for eligibility under the program.