Opportunity zones can offer very strong investment returns, while also making a socially strong impact on the local Los Angeles community, especially in areas that have been trailing in development. The tax incentives and investment potential combined can attract the funds required to make a meaningful dent in creating supply. I encourage investors to consult a tax professional to fully understand the common questions regarding opportunity zones, but in a nutshell, they were established to attract investment dollars to areas that are currently struggling and experiencing slow economic growth by incentivizing investment into those markets. Ultimately, investment money in opportunity zones will lead to the development of more affordable housing, which the country — and in particular, my home of Los Angeles, where my firm has focused its opportunity zone funds — so desperately needs.
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