By Joshua Pollard
July 30, 2019
The average American does not know what an Opportunity Zone is yet. The average American is, however, very aware that a presidential election will occur next year. Opportunity Zones are about to take center stage at the presidential debates, increasing awareness and potentially putting new legislative energy around this important, new economic tool.
Over the next two nights 20 Democratic candidates will debate “regular” topics ranging from border security to health care, but there is one topic that is likely to make fresh headlines for the average American: Opportunity Zones.
Opportunity Zones are low- to moderate-income neighborhoods that governors from every state chose in 2018 based on tax laws that went into effect in December 2017. Inside these Opportunity Zones investors are offered generous tax advantages for making longer term investments. Some experts project that Opportunity Zones will deliver enormous benefits to private-sector investors and economic growth for low-income communities.