Opportunity Zones provide three benefits with respect to local community and economic development.
They offer an ability to act as a convening agent for a diverse array of stakeholders in thinking about community-level investments.
Opportunity Zones additionally provide a tax incentive for capital gains.
They also provide preferential consideration in federal grants, loans, and technical assistance programs.
In this talk, head of the Economic Innovation Group, John Lettieri, talks about the "forgotten zip codes" across America, and how Opportunity Zones can allow them to thrive. John's career in public policy has included time in both the public and private sectors working with a diverse set of policymakers, entrepreneurs, investors, and global business leaders.
Communities have seen all three of these benefits leveraged in a variety of ways to support a multitude of projects, from affordable housing and healthcare to small business development and renewable energy.
For communities to achieve the maximum benefit from the Opportunity Zone program, states and investors must be committed to the original intent of Opportunity Zones and endeavor to support impactful projects that incorporate community input and align with social impact goals.
Michael Saunders is an editor of TopGovernmentGrants.com. He edits a site on Community Foundations that highlights the Social Progress Index for Counties around the country and Opportunity Zones within these foundations' areas of coverage.
Additional Government Grants Resources
National Integrated Water Quality Program In accordance with this mission, the National Institute of Food and Agriculture has recently established the National Integrated Water Quality Program (NIWQP) in an attempt to substantially contribute to the improvement of the quality of our nation's surface water and groundwater resources through research, education, and extension activities. Minority Business Enterprise Centers for Minority-Owned Businesses The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee. Rural Policy Analysis Program The Health Resources and Services Administration has recently established the Rural Policy Analysis Program, wherein it intends to solicit applications that support the research and analysis of respective policy affecting rural communities, so as to inform policy makers. Cancer Education Grants Program The National Cancer Institute has developed the Cancer Education Grants Program wherein it seeks to financially support innovative educational efforts that would contribute to the reduction of cancer incidences, morbidity and mortality rates; as well as the improvement of the quality of life of surviving cancer patients. Exploratory Grant Award to Promote Workforce Diversity in Basic Cancer Research The National Institutes of Health has formed a partnership with the National Cancer Institute(NCI) in an effort to establish the program entitled Exploratory Grant Award to Promote Workforce Diversity in Basic Cancer Research. Downpayment Assistance Program for the First Time Home Buyers in North Carolina The programs and activities of the North Carolina Housing Finance Agency are constantly geared towards the satisfaction of the best interest of its target population, which is why all their endeavors are carefully guided by their overall agency mission which is "to create affordable housing opportunities for North Carolinians whose needs are not met by the market." Community Development Block Grant Program for Indian Tribes and Alaska Native Villages The Office of the Assistant Secretary for Public and Indian Housing within the Department of Housing and Urban Development, has recently established a funding opportunity entitled Community Development Block Grant Program for Indian Tribes and Alaska Native Villages (ICDBG).