A New Path To Revitalization: Opportunity Zones
The bipartisan Opportunity Zones Program focuses on distressed, low-income census tracks designated as eligible to receive targeted economic investments through "Opportunity Funds," which are Treasury-certified private investment vehicles that aggregate and deploy private capital into Opportunity Zones.
Opportunity Zones exist to:
fund new and small businesses,
develop blighted properties,
invest in key local infrastructure projects,
finance facility construction or refurbishment, and
a number of other activities intended to revitalize and enhance local economic ecosystems.
Based on the 2011-2015 American Community Survey, over 41,000 census tracts are eligible for designation as Qualified Opportunity Zones. Over 52 million Americans reside in distressed and under-served communities that may benefit from the investment brought by Opportunity Zones.
Bringing Public Policy And Private Enterprise Together
The Opportunity Zones program utilizes sensible policy making to incentivize long-term private sector investment into under-served communities.
United States investors hold an estimated $2.3 trillion in underutilized capital gains from stocks and mutual funds alone. Opportunity Funds allow investors to roll these passive holdings of accumulated capital gains into under-served communities.
Opportunity Zones help attract otherwise wary investors to America’s most under-served communities; new investment will flow into blighted developments, stalled infrastructure projects, and other desperately needed economic enhancements, driving improvements that will help turn dreams to reality.
The Federal government stands ready to work with State, and local officials to best implement Opportunity Zones in the communities that need them the most.