Opportunity Zones Aren’t a Gimmick—They’re a Legitimate Investment Option
Doing good while also doing well has long been a challenge for investors who rightly pursue profitable investments, but also want to improve the world they live in. Opportunity Zones, created by President Trump’s 2017 Tax Cuts and Jobs Act, provide a unique investment vehicle to do just that. Since I became head of the Economic Development Administration (EDA) in March, I have worked with Commerce Secretary Wilbur Ross to engage with communities and regional leaders to promote the advantages of investing in Opportunity Zones.
Opportunity Zones were established to direct investment to and spur job creation in underserved, impoverished, or otherwise distressed communities throughout the country. To encourage investment into the nearly 9,000 specially-designated Opportunity Zones, which are located throughout the U.S. and its territories, the president worked with Congress to develop special tax incentives.
With the potential to impact the lives of so many people, including the more than 35 million Americans living in the specially-designated areas, Opportunity Zones can be a powerful driver of transformative investment and economic development in our nation’s low-income neighborhoods.
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