Opportunity Zones Face Significant Socioeconomic Challenges
Economic decline is pervasive and gentrification rare according to new analysis Washington, D.C. — Today, the Economic Innovation Group (EIG) released a new study, “The State of Socioeconomic Need and Community Change in Opportunity Zones.” The study demonstrates that, despite a small share of outliers, Opportunity Zones are marked by pervasive economic stagnancy and decline….
Read moreEconomic Innovation Group Statement on U.S. Treasury’s Proposed Rules for Opportunity Zones
The U.S. Department of the Treasury today issued proposed regulations related to Opportunity Zones, which were established as part of the Tax Cuts and Jobs Act of 2017. Under the law, businesses and individuals are eligible for tax benefits on capital gains reinvested in the 8,700 low-income communities designated as Opportunity Zones across all 50…
Read moreNew Study Shows How Recovery From The Great Recession Transformed The Geography of U.S. Economic Well-Being
Study finds it took under five years for prosperous communities to replace lost jobs while distressed ones are unlikely to ever recover on current trendlines The Economic Innovation Group (EIG) released a new report, From Great Recession to Great Reshuffling: Charting a Decade of Change Across American Communities, tracking changes in the well-being of U.S….
Read moreEIG 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…
Read moreEIG 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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