The concept of an Opportunity Zone was created from the 2017 Tax Cut and Jobs act. An Opportunity Zone is an area that is designated as being economically disadvantaged. Governors recommended certain areas in their states to the US Treasury to be designated as Opportunity Zones. The Treasury has certified 8,700 areas. On average these areas have household income that is 37% below the state or area median and 1.6 times the national unemployment rate. Tax incentives were created to encourage investment and job creation in these areas.
Looking at a map it appears that UH and the third ward were designated as an Opportunity Zone. I would think this could really jump start the gentrification of the 3rd ward given the proximity to downtown and UH. Does anyone have any knowledge of investor interest near UH due to this new program?
Please keep political commentary out of this thread. Thanks....
https://eig.org/opportunityzones
Looking at a map it appears that UH and the third ward were designated as an Opportunity Zone. I would think this could really jump start the gentrification of the 3rd ward given the proximity to downtown and UH. Does anyone have any knowledge of investor interest near UH due to this new program?
Please keep political commentary out of this thread. Thanks....
https://eig.org/opportunityzones
