Amazon had been criticized for locating their HQ2 in an opportunity zone in Queens, New York. As it turns out, they will not be taking advantage of the tax break after all. From Bloomberg: “We will not be using the opportunity zone on this project,” Holly Sullivan, head of economic development at Amazon, told the
Opportunity Zones News
Are two tax incentives better than one? Stacking, or twinning, multiple tax credits can oftentimes help bridge a funding gap on certain real estate projects. The Opportunity Zones program can be paired with a variety of other tax credits. The place-based nature of the Opportunity Zones program makes it ideally suited to be paired with
Last week, Senator Tim Scott (R-SC) — along with 15 other Senators and Congressmen — sent a letter to Treasury Secretary Steven Mnuchin, seeking clarification on several matters related to the Opportunity Zones tax policy, specifically in regards to investments in operating businesses, certain timing requirements, and community impact. The letter calls attention to five
How do we prevent the Opportunity Zones program from becoming merely a subsidy for gentrification? How can we instead ensure that opportunity zone investments actually benefit the people who live in the designated zones so that they can participate in any subsequent economic upturn? Dallas-based entrepreneurial business attorney Gerry Reihsen is out to answer those
What does an opportunity zone city revitalization project really look like? And how can public-private partnerships help to accelerate a community’s renewal? The Colorado Outdoors project in Montrose County offers an excellent case study to answer these questions. Home to 20,000 people, Montrose is a rural community located in an opportunity zone on Colorado’s western
Will the opportunity zone initiative accelerate the nation’s transition to renewable energy? Find out why solar energy development and opportunity zone investing may be ideally suited for each other. Today’s guest is Allen Alley — technology investor, former Republican candidate for governor of Oregon, and co-founder of the Obsidian Opportunity Fund. Obsidian’s fund applies opportunity
Manager interest in launching qualified opportunity zone funds is sky high, but most are still waiting to hear more regulatory clarity from the IRS. Thus far, most of the managers that have launched OZ funds are relatively small private wealth management firms and family offices oriented toward wealthy individual investors, according to P&I. Of course,
Why are shovel-ready project-driven Opportunity Zone funds usually superior to blind-pool funds? Greg Genovese is president of Sound West Realty Capital, a real estate development group based in the Seattle area. Originally from the California Bay Area, Greg relocated to Bremerton, WA last year to head Sound West’s opportunity zone projects. Click the play button
New business development and job creation in economically blighted communities were two of the main goals of the opportunity zone legislation passed by Congress last year. But so far, the vast majority of opportunity zone funds are focused solely on real estate development. The problem with business is that it’s murky. Which ones will qualify
Two additional census tracts in Puerto Rico have been designated as Opportunity Zones by the Treasury Department. The two tracts — 72119130102, located in Rio Grande, and 72137122002 located in Toa Baja — meet the statutory criteria for a Low-Income Community based on new American Community Survey data (2012-2016).
OpportunityDb.com provides world-class tools, education, and analysis to help interested parties discover opportunities in the federal Opportunity Zones program.