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Arctaris commits $40 million to Erie Opportunity Zones

ImpactAlpha, July 1 – Arctaris Impact Investors has launched a $40 million Opportunity Zone initiative invest in projects to revitalize the downtown corridor in Erie, Pennsylvania, including mixed-use real estate projects. The city of Erie has eight designated Opportunity Zones, “including some of the lowest-income zip codes” in the U.S., according to the Boston-based impact investor.

Opportunity Zone capital flows to real estate but not to small businesses – or impact

Almost two years after the capital-gains tax cut went into effect, the conclusion is inescapable: few dollars are flowing to projects promoting equitable development or in small businesses with the potential to create local wealth and jobs.