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
Lifespan Respite Care Program - Technical Assistance Resource Center In keeping with this mission, the Administration on Aging has recently announced the constitution of the Lifespan Respite Care Program - Technical Assistance Resource Center wherein it aims to invite applications for a competitive grant opportunity for implementing the requirements of the Technical Assistance Resource Center (TARC) as authorized in the Lifespan Respite Care Act of 2006. Combating Autism Act Initiative: National Interdisciplinary Training Resource Center Program In keeping with this mission, the Health Resources and Services Administration has recently announced the establishment of the Combating Autism Act Initiative: National Interdisciplinary Training Resource Center Program wherein it aims to solicit applications from eligible entities that seek to run and manage a National Interdisciplinary Training Resource Center.
Health Care Innovation Challenge The Centers for Medicare and & Medicaid Services has recently established the Health Care Innovation Challenge in an attempt to solicit proposals to establish interesting new models of service delivery that can potentially deliver the three-part aim of better health, better health care, and finally, lower costs through the improved quality of Medicare, Medicaid, and Children's Health Insurance Program. Small Business Grants - Free or Low Cost Consulting for Your Small Business Did you know that it is possible for you to receive free or low cost consulting for your small business? If it sounds too good to be true, rest assured it is actually possible. Not only does it make sense economically, but you would be receiving advice from professionals who have extensive business experience. 2012 Public Works and Economic Adjustment Assistance Programs Opportunity The Economic Development Administration has recently established the Public Works and Economic Adjustment Assistance Program in an effort to solicit applications from urban and rural communities to create initiatives that could potentially advance new ideas and innovative strategies in an effort to address constantly changing economic conditions. First Time Homebuyer Programs in California The programs of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership." National Urban and Community Forestry Challenge Cost-Share Grant Program The National Urban and Community Forestry Advisory Council, in close cooperation with the US Forest Service, has established the National Urban and Community Forestry Challenge Cost-Share Grant Program.
UK will be celebrating its first national celebration of social enterprises dubbed as Social Saturday. World famous celebrity chef Jamie Oliver, who founded the Fifteen restaurant chain.