Opportunity Zones

SGA’s take on introduced opportunity zone reform bill

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Last week, a bipartisan group of senators introduced a bicameral bill aiming to reform opportunity zones, the Opportunity Zones Transparency, Extension, and Improvement Act. Smart Growth America (SGA) views the opportunity zone reform bill as a necessary step to advance more equitable outcomes through opportunity zones, which have not benefited the historically underserved communities, nor the small, minority-owned and legacy businesses, as intended.  Additionally, SGA notes that opportunity zones are not sufficient in advancing our goal of delivering more attainable housing near transit, a key tool for smart growth.

Economic development LOCUS

How would the American Jobs Plan address insufficiencies in affordable housing and equitable development?

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Following up on our previous overview of the American Jobs Plan, we explore some specific provisions related to land use and development intended to address national insufficiencies in affordable housing and related infrastructure, and also make some recommendations to improve it. Within the expansive American Jobs Plan, there are four land use and development proposals … Continued

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

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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

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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

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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

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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

Opportunity Zones aid in historic revitalization and mixed-use development in Greenfield and Montague

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The City of Greenfield and the Town of Montague in Massachusetts’ Pioneer Valley sought technical assistance through the first-ever Massachusetts Opportunity Zones Academy to help determine future equitable development project feasibility in their three Opportunity Zones.

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