Opportunity Zones are a tax incentive program that encourages people and corporations to invest their capital gains into lower-income communities. Investments made through the program are predominantly in real estate.

Research and Evidence Housing and Communities
Expertise Community and Economic Development Center for Local Finance and Growth
Tags Community development finance and CDFIs Community Reinvestment Act Impact investing Federal housing programs and policies Housing development and supply chain Housing finance data and tools Multifamily finance
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    The Tax Cuts and Jobs Act included a new federal incentive—Opportunity Zones—to spur investment in low-income and undercapitalized communities. Governors (and the mayor of the District of Columbia) have now selected zones, and investors, businesses, state and local governments, and philanthropy are figuring out how to turn this concept into investable deals.




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    • Director, Center for Local Finance and Growth
    • Senior Research Associate
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    • Senior Research Associate
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    • Urban Institute Associate
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    • Principal Research Associate