Over 38 million Americans live in extreme poverty. Due to this, nearly 9,000 economically distressed areas in the U.S. qualify as “Opportunity Zones” (OZs) or areas that contain residents who are affected by lower incomes, higher poverty rates, and higher unemployment rates. These low-income populations suffer from poor socioeconomic factors, which can involve not having access to clean water in urban areas, decent housing, or jobs paying livable wages.
The 2017 Tax Cuts and Jobs Act included provisions that reward investors for investing in OZs. Investable projects range from building new housing and infrastructure to building power and water purification plants. Opportunity Funds have since been created to increase the flow of private investments into OZs.
But which OZ projects and funds are truly impacting low-income populations? Private investors with a genuine interest in improving the lives of low-income communities should listen in on this fascinating discussion.
This Boundless webinar featured Kevin Matz of Stroock & Stroock & Lavan LLP, Nicole Chavas of Greenprint Partners, Rob Lalka of Medora Ventures, and Anne Driscoll of LaunchPad. They discussed how investors can create true social and economic impact by investing in Opportunity Zones.