Few issues have captured the attention of city leaders to the extent of “opportunity zones.” But for many cities, towns and villages, there is more confusion than clarity. NLC is kicking off a new line of work to help cities understand and maximize the local impact of opportunity zones for all residents.
The opportunity zone program was created under the 2017 Tax Cuts and Jobs Act to provide local and national investors with a tax incentive for investments in economically distressed areas of the country. More than 8,700 opportunity zones have been designated across all 50 states for the next 10 years.
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The Opportunity Zones program, passed into law last year, went by nearly unnoticed after it was bundled into the larger 2017 tax reform bill. Many state and local leaders were first introduced to the program during the 90-day window for zone…
This is a guest post by Steve Glickman and John Lettieri, co-founders of the Economic Innovation Group.
Opportunity Zones is a new community development initiative established by Congress in the Tax Cuts and Jobs Act of 2017 designed to…