Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Rockefeller Foundation seeds city-level support for Opportunity Zones



ImpactAlpha, May 22 – The goal of the $5.5 million in funding from New York foundation is to help cities attract and deploy impact-oriented investment to communities in economically distressed Opportunity Zones.

Rockefeller will provide funding and human resources to six cities, beginning with Newark, over two years to support city-level Chief Opportunity Zone Officers, as well as community engagement specialists. Prudential Financial added $950,000 to support the Newark effort.

“Philanthropy has an important role to play in ensuring opportunity zones improve the lives of the residents in distressed communities,” said Rockefeller’s Raj Shah.

Funding from Rockefeller is part of a broader effort by U.S. foundations to ensure Opportunity Zone investments benefit community members. Earlier this year, Kresge Foundation put $22 million into the Opportunity Funds of two impact fund managers, Arctaris Impact and Community Capital Management. Kresge also backed a Calvert Impact Capital Opportunity Fund incubator.

Rockefeller will pick five more cities to receive funds in the coming months.

You might also like...