- Community development finance... is the backbone of strong cities and communities.
- The Opportunity Zone program... is a significant departure from other community investment programs.
- Investments in these zones... need to be responsive, transparent, long term and reach all communities that need them.
Wednesday’s deadline for identifying such zones under a provision of last year’s Tax Cuts and Jobs Act forced tough choices. States were able to choose no more than one-quarter of their low-income neighborhoods for investments that will let investors defer and reduce capital gains taxes. An even tougher challenge is ensuring local residents aren’t displaced by
New Revivalists is a series from ImpactAlpha and Village Capital profiling the people, places and policies reviving entrepreneurship — and the American Dream. New Revivalists: John Lettieri and Steve Glickman, co-founders, Economic Innovation Group Place: Washington, D.C. Mission: The duo created the model for “opportunity zones” into which investors can re-invest capital gains and defer or reduce taxes.
The intention to generate social or environmental benefit is key to impact investing. But a tax break can be an additional incentive. Among the many provisions of the Republican tax bill signed by President Trump last month is the new “Investing for Opportunities Act,” which lets investors temporarily defer taxes by investing their capital gains
More than three-quarters of all venture capital investment went to California, New York and Massachusetts last year. A new bipartisan bill, the “Investing in Opportunity Act,” aims to spread the wealth by tapping the $2 trillion in unrealized capital gains in stocks and mutual funds. The bill would set up “Opportunity Funds” in underserved “Opportunity Zones.” Investors