Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act to stimulate economic development and job creation by incentivizing long-term investments in low-income neighborhoods. There are more than 8,700 Opportunity Zones throughout all 50 states, District of Columbia, and the five U.S. territories. The White House Opportunity and Revitalization Council, which includes representatives from 17 different Federal agencies and Federal-State partnerships, works together to incentivize investment in underserved areas. It was formed to better coordinate Federal economic development resources in Opportunity Zones and other distressed communities.
HUD hosted a Philanthropic Roundtable on Effectively Developing Strategies on Opportunity Zones. The roundtable was held on September 10, 2019, to solicit feedback on how best to stimulate the economic development of urban and economically distressed areas, including qualified opportunity zones economic development organizations to further the Opportunity Zones efforts. This roundtable was in consultation with key philanthropic stakeholders to highlight existing efforts to advance the success of Opportunity Zones.
In addition to the Philanthropic Roundtable, HUD Regional Offices have held Roundtables as well.
Region 10 – 26 April 2019 – Portland, OR
Region 8 – 24 June 2019 – Denver, CO
Region 3 – 8 July 2019 – State College and Tamaqua, PA
Region 3 – 9 July 2019 – Philadelphia, PA
Region 9 – 12 August 2019 – Palo Alto, CA at Silicon Valley Community Foundation
To stay updated on important information and follow the work of the White House Opportunity and Revitalization Council visit this website.
To stay on top of Opportunity Zone Council action items, Executive Director Scott Turner’s travel and outreach, and latest news, sign up for the Opportunity Zones mailing list here.
Opportunity Zones Toolkit Volume 1: A roadmap to help communities plan for potential investments in Opportunity Zones by understanding local needs, aligning community assets, establishing regulatory tools and financing incentives to support investments, and forming partnerships toward equitable and inclusive community development.