Preparing for a Land of Opportunity

by | Jun 19, 2018

By Scott Suttell, Crain’s Cleveland Business

 

Two leaders of the Fund for Our Economic Future take a look at the new federal Opportunity Zones program, aimed at encouraging long-term investments in low-income communities, and conclude it could pay big dividends for Northeast Ohio.

 

In a piece for the Brookings Instituiton headlined, “The race for economic opportunity is about to begin. Who is ready?,” the Fund’s Kevin Alin and Peter Truog note that the U.S. Treasury Department on June 14 officially certified 12 percent of U.S. census tracts as Opportunity Zones. (The program offers a tax incentive for investors to deploy unrealized capital gains into Opportunity Funds that invest within designated Opportunity Zones.)

 

“What unfolds over the next 10 years in one-eighth of America’s neighborhoods could fundamentally shape the landscape of inclusive economic growth across the country,” write Alin, the Fund’s vice president, and Truog, its director of civic innovation and insight.

 

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