The speculation race is on for the opportunity zone market.
In 2017, a tax-incentivized investment program was launched to create tax benefits for investors who invest in one or more of the 8,764 distressed neighborhoods. The program was created to offset unequal growth in the United States and to revitalize neighborhoods with anemic growth. k
According to Forbes, what started as a federal program has now become a market.
That is exactly what is happening. Once the 8,764 Opportunity Zones were designated and the Treasury Department began issuing regulatory guidance, the market sprang to life. There has been a race to stake ...
Minnesota is making Opportunity Zones work for their communities!
DULUTH, Minn., Sept. 17, 2019 /PRNewswire-PRWeb/ -- The Minnesota Opportunity Collaborative, which launched in spring 2019, continues to expand its efforts to inspire investment in opportunity zone projects across Minnesota. MNOppCo is committed to bottom-up collaboration to put the opportunity zone incentive to work for communities that have historically suffered from a lack of investment. MNOppCo's grassroots effort is unique among statewide opportunity zone programs and has helped ensure that it directly serves the communities that can most benefit from the legislation.
MNOppCo has its roots in the efforts of The Northspan Group, Inc. and Community Exchange, two nonprofits devote...
Corianna Payton Scally and Amanda Gold raise the issue of housing and argue that the problem is equally challenging for rural communities.
Unequal economic recovery continues to favor select regions of the United States leaving behind large rural areas. In these areas, the shortage of housing is amplified.
It is estimated that over 75% of rural homes are owner-occupied leaving a shortage of rental homes. And, rural communities face a labor shortage in the construction industry and have a lower population density. Therefore, people and capital are not readily available to construct or remodel rental housing to meet the need.
Federal Programs ar...
This summer, at the 2019 Breakthrough Solutions conference in Little Rock Arkansas, Matt Dunne shared his message for economic growth in rural America. His presentation, "Stemming the Tide: Creating Digital Ecosystems in Rural Areas” focused on revitalizing rural areas.
He highlighted five areas that community leaders need to pay attention to:
Provide education and training for the digital economy
Develop a distributed work community
Improve entrepreneurship programs
Invest in downtown housing
Promote arts, culture and recreational amenities
Try these '30 PROVEN MARKETING TIPS FOR ECONOMIC DEVELOPERS'.
He called out the need for connectivity in rural communities, "It is the electricity of our time."
Rural communities are familiar with the struggles o...
The 2017 Tax Cuts and Jobs Act is designed to bring investment to distressed neighborhoods. By creating Qualified Opportunity Zones (QOZ) communities can offer investment vehicles for people seeing tax incentives.
Investors who invest in an opportunity zone can defer capital gains on sold assets until December 31, 2026 or until they decide to sell the asset. Additionally, any gains from the investment may be realized tax-free. This can be a powerful incentive to drive investment into distressed areas.
Opportunity zones have gained widespread attention and communities are starting to create marketing materials and strategies to attract investors and developers.
According to "Investin...
The physical vastness and cultural diversity of the United States can make the country seem more inherently different than it is similar.
But what’s broadly true of America in rural and urban areas alike is the persistent shortage of affordable housing. A new analysis by Stateline paints a stark picture of the renewed rental burdens chipping away at the incomes of working- and middle-class Americans in rural communities.
“The housing system isn’t working on behalf of a lot of rural residents,” says David Lipsetz, CEO of the Housing Assistance Council (HAC), a nationwide nonprofit dedicated to helping build affordable rural housing.
Read the full article here.