New report: Are Opportunity Zones boosting the prospects of small businesses?

The new Opportunity Zone tax incentive was conceived as a tool to promote economic development, job creation, poverty reduction, and support for new businesses in areas of concentrated poverty. A couple years in, is it having the desired effects for small business stability and growth, especially for minority-owned legacy businesses?

Economic development LOCUS

Coming next week: The impact of Opportunity Zones on small businesses

With investments from the Opportunity Zone tax incentive flowing into these newly designated zones for a few years now, our new report sought to find out: Are these investments supporting small business stability and growth, achieving the stated goal of place-based economic development and job creation in distressed communities? If not, why not? And what are the risks and rewards specifically for minority-owned legacy businesses within Opportunity Zones?

Economic development

Webinar recap: the National Opportunity Zones Marketplace


LOCUS & Smart Growth America recently launched the National Opportunity Zones Marketplace, an online resource to help facilitate equitable development and information sharing. It’s the latest evolution of our work to ensure that new investment in Opportunity Zones benefit existing residents the community at-large instead of displacing the people the tax incentive was intended to help. Watch the recorded webinar about how to use the Marketplace.

Economic development LOCUS Technical assistance

New Opportunity Zones Marketplace will help local leaders partner with developers to produce more equitable development

Smart Growth America and its LOCUS coalition of responsible real estate investors & developers today launched the National Opportunity Zones Marketplace to equip the local governments, real estate developers and investors, and community leaders in 13 communities across the country to work together to make smart, equitable development possible in Opportunity Zones—and beyond.

LOCUS

Salem considers Opportunity Zones for new mixed-use and TOD development


The proposed South Salem Commuter Rail Station has brought a lot of attention to an underutilized area of land in Salem, which also happens to be a designated Opportunity Zone. During the inaugural Massachusetts Opportunity Zones Academy, SGA provided the City with three different development scenarios to consider for the land use and zoning near the proposed station site.

LOCUS

Barnstable and Yarmouth aim to use Opportunity Zones to promote walkable urban form


The towns of Barnstable and Yarmouth on Cape Cod worked with SGA’s Form-Based Codes Institute during the first-ever Massachusetts Opportunity Zones Academy to gain insight on how to take advantage of their designated Opportunity Zones to create a better sense of place within the two towns.

Form-Based Codes LOCUS Technical assistance