By Emily Maher
Opportunity Zones are a new federal tax credit established by Congress in the Tax Cuts and Jobs Act of 2017 to stimulate private investment in distressed communities across the United States. The program offers three incentives for investing in low-income communities.
While the program is administered by the federal government, states took the lead in designating zones and play a role in implementation. As of April 2019, all 50 states and territories have designated Opportunity Zones.
Although the program is in its first year of implementation, communities are moving quickly to attract investment before the end of 2019 to realize the full benefits of the incentive.
Learn more about Opportunity Zones and state strategies to attract investment in NCSL and The Pew Charitable Trusts’ webinar, “Opportunity Zones: State Strategies to Support Investments”, at 11:30 a.m. MT on Thursday, June 6.
Stephanie Copeland, of the Governance Project, will discuss ways to strengthen and support state and local community development projects in Opportunity Zones. She will also address federal regulations for the nearly 9,000 zones and their impact on local economic development efforts.
Mark Wasky, of the Indiana Economic Development Corporation, will share insights on Indiana’s targeted efforts to attract investment utilizing this new federal incentive.
To register for this webinar, please visit our webpage.
Emily Maher is a policy associate in NCSL's Fiscal Affairs program.