Opportunity Zones: the new frontier of economic development

The Tax Cuts and Jobs Act in 2017 introduced Opportunity Zones. Simply put, Opportunity Zones open up a pathway for private investors to put money into economically-challenged communities through a variety of tax benefits for the capital invested and gained, conditional on meeting certain requirements. Opportunity Zones have caught the attention of mayors, economic development agencies, private investors, philanthropic foundations, and consultants. An article written by Dane Stangler and published in Forbes Magazine, states, “What will really fulfill the economic development promise of Opportunity Zones is an on-ground mechanism to enable investors to support local entrepreneurs.” Click here to learn about one such on-ground mechanism:  Turning Opportunity Zones Into Real Opportunities With Launch Pad