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Tucked Into the Tax Bill, a Plan to Help Distressed America

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EIG Applauds Bipartisan Bill on Opportunity Zones Reporting Requirements

The Economic Innovation Group Applauds Bipartisan Bill on Reporting Requirements for Investments in Opportunity Zones Washington, D.C. – The Economic Innovation Group (EIG) welcomed bipartisan Congressional action to affirm the importance of investment transparency in Opportunity Zones, and reinstate impact and outcome reporting measures from the Investing in Opportunity Act.   In the Senate, Senators…

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Amid a crisis of inequality, $2 trillion of tax-free investing in Opportunity Zones could benefit both rich and poor

/   R. Paul Herman, CNBC

How can a formerly failing freshman in a South Carolina high school ultimately build a path to prosperity for millions of poor people nationwide? Through the U.S. tax code, of course.

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IRS Publishes Second Round of Proposed OZ Guidance

IRS Publishes Second Round of Proposed Opportunity Zones Guidance, Opening the Door for More and Diverse Investments in Distressed Communities On April 17, 2019, the Treasury Department released a second set of proposed regulations relating to the operation of Qualified Opportunity Zones (QOZs) and Qualified Opportunity Funds (QOFs).  While several key questions remain, the regulations…

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Towards a more socially and spatially inclusive innovation economy

By Kenan Fikri, Research Director, Economic Innovation Group The innovation- and technology-led economic development model of the past couple of decades rested on two beliefs that, in retrospect, were overly optimistic: That, within countries, technology would be a force both for economic diffusion geographically and for economic inclusion socially. Yet, instead of spreading economic activity,…

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Watch: Bruce Katz on how communities create an OZ prospectus

The Economic Innovation Group partnered with the Minority Business Development Agency and The Enterprise Center in March to convene investors, government officials, community members, developers, and entrepreneurs for a discussion on Opportunity Zones. Rachel Reilly interviewed Bruce Katz, co-founder and director of the Nowak Metro Finance Lab at Drexel University, regarding his work with city…

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Economic Innovation Group Statement on U.S. Treasury’s Second Set of Proposed Rules for Opportunity Zones

Today, the U.S. Department of the Treasury issued the second set of proposed regulations related to Opportunity Zones, a bipartisan initiative included in the Tax Cuts and Jobs Act of 2017. The Economic Innovation Group’s President and CEO, John Lettieri, said, “The success of this initiative depends, first and foremost, upon a regulatory framework that…

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