On February 27th, the Economic Innovation Group hosted a webinar with Alfonso Costa, Jr., Deputy Chief of Staff at the U.S. Department of Housing and Urban Development, to share highlights from the White House Opportunity and Revitalization Council’s recent report on activities completed in its first year. 

A recording of the webinar can be found here with the slides here

The White House Opportunity and Revitalization Council, which is comprised of 17 Federal agencies and Federal-State partnerships, was established by Executive Order in December 2018 to target, streamline, and coordinate Federal resources for Opportunity Zones and other economically distressed communities. In addition, the Council is engaging community leaders, investors, business owners, and policymakers throughout the nation to identify and disseminate information on emerging Opportunity Zones strategies and measure the impact of the policy. 

During the webinar, Costa, Jr. provided an overview of the 180 actions taken by the Council in 2019 to encourage public and private investment. He discussed the Council’s ongoing work to measure the impact of Opportunity Zones and support Congressional efforts to do so. Finally, Costa, Jr shared upcoming community resources and engagements planned for 2020. 

EIG’s Rachel Reilly then shared ways in which Council agencies are deploying resources to support revitalization efforts and community-led initiatives that are positioned to create equitable outcomes in Opportunity Zones. She encouraged agencies to replicate grants made by the Economic Development Administration and Appalachian Regional Commission to support Community Development Financial Institutions which are building local capacity and providing technical assistance to residents and businesses in Opportunity Zones. 

Up Next:

Register for our March 30 webinar with Main Street America to learn about emerging strategies for Main Street revitalization and business growth in Opportunity Zones.

EIG’s OZ Webinar Series: This webinar is the ninth in a series EIG will host throughout 2019 and 2020. These webinars address a variety of topics related to Opportunity Zones implementation, showcase best practices from around the country, and serve as a resource for investors, project sponsors, entrepreneurs, and community developers looking to use the incentive. So far, EIG has covered an introduction to Opportunity Zones, an analysis of the finalized regulations, community best practices in heartland, rural, and tribal communities, an overview of Opportunity Zones investments in operating businesses and affordable housing and the role anchor institutions can play in supporting Opportunity Zone activities. 

Opportunity Zones 

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