Will new Opportunity Zones attract investors to the Bay Area's poorest areas?

(SF Business Times)

Shawn Gavne, site manager at Alstom  TODD JOHNSON | SAN FRANCISCO BUSINESS TIMES

Shawn Gavne, site manager at Alstom

TODD JOHNSON | SAN FRANCISCO BUSINESS TIMES

On a 157-acre swathe of waterfront land on Mare Island, the City of Vallejo wants to see 1 million square feet of new commercial space built. As it looks to pick a developer later this year, the city hopes to have an additional way to lure investment: A new tax break that’s spanning all of America.

Six Vallejo census tracts including Mare Island, along with dozens of other high-poverty and low-income tracts around the Bay Area, were certified as Opportunity Zones by the U.S. Treasury Department.