EIG Media Contact: Reuben Francis | [email protected]
Washington, D.C. – The Economic Innovation Group (EIG) applauds Chairman Mike Crapo (R-ID) and the Senate Finance Committee for permanently extending Opportunity Zones (OZs) in their newly unveiled tax legislation.
“EIG applauds Chairman Crapo and the Senate Finance Committee for their leadership in advancing legislation to make Opportunity Zones a permanent feature of the tax code,” said John Lettieri, President and CEO of the Economic Innovation Group. “Since their enactment in 2017, Opportunity Zones have become one of the nation’s most important tools for driving private investment into struggling communities. Congress now has a chance not only to lock in that success, but to strengthen the policy in key ways — especially by making it easier to raise capital and invest in non-real estate operating businesses. As the reconciliation process moves forward, we urge lawmakers to adopt consensus recommendations that will help the policy achieve its full transformative potential.”
EIG has long championed the Opportunity Zones policy as a transformative tool for channeling private investment into economically distressed communities. Since its enactment as part of the 2017 Tax Cuts and Jobs Act, the OZ incentive has driven nearly $100 billion in qualified investment into low-income areas across the country, with especially significant gains in housing development.
Recent research from EIG shows OZ investment is reaching high-need communities and delivering results. A 2025 working paper found that OZs drove the creation of 313,000 new residential addresses between Q3 2019 and Q3 2024 — roughly doubling housing growth in designated communities over that period. Additionally, OZs have proven far more cost-efficient than traditional federal housing programs.
About the Economic Innovation Group (EIG)
The Economic Innovation Group (EIG) is a bipartisan public policy organization dedicated to forging a more dynamic and inclusive American economy. Headquartered in Washington, DC, EIG produces nationally-recognized research and works with policymakers to develop ideas that empower workers, entrepreneurs, and communities.
