Archive for the ‘Latest developments’ Category

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Opportunity Zones: Tapping into a $6 Trillion Market

Today, states will begin asking the Treasury Department to bless their chosen low-income community census tracts as Opportunity Zones. We anticipate that about half of the states will submit their zone nominations by the March 21st deadline, and half will opt for the 30-day extension to April 20th. By early summer, the country’s map of…

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EIG Urges California To Re-Evaluate its Recommendations for Opportunity Zones Designations

Washington D.C. – Today, the Economic Innovation Group (EIG) released a letter urging California to reconsider its preliminary recommendations for census tracts to be designated as Opportunity Zones. Opportunity Zones are a new national community investment incentive established by a bipartisan provision of the Tax Cuts and Jobs Act to connect low-income communities with long-term…

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Treasury Issues Technical Correction To Opportunity Zone Data

Today, the Department of the Treasury issued a technical correction to the Opportunity Zone data from the February 8, 2018 release. This update reflects a more inclusive census tract contiguity analysis and corrects some data errors in the original file. It now includes qualified high migration tracts, low-population tracts within Empowerment Zones, and territorial data that meet the definition…

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EIG Applauds Measure to Revitalize Distressed Communities in Senate Tax Reform Package

Today, the U.S. Senate approved the Tax Cuts and Jobs Act. The bipartisan Economic Innovation Group (EIG) released the following statement: “EIG applauds the United States Senate for including the bipartisan Investing in Opportunity Act in its comprehensive tax reform package. In spite of years of national growth, tens of millions of Americans live in…

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