28 OPPORTUNITY ZONE MAGAZINE | VOLUME 2 • ISSUE 1
OPPORTUNITY ZONE INCENTIVES ARE CREATING JOBS AND
INVESTMENT IN COMPANIES IN LOW INCOME COMMUNITIES
By Joseph B . Darby III & Jill Homan
It is estimated that more than one million people have been lifted out of poverty and into self-sufficiency because of the OZs . Let ’ s hope potential changes by the Biden administration continue the progress .
The Opportunity Zone ( OZ ) industry has become a
real phenomenon . The OZ incentive is , undeniably , moving capital , businesses , people , and employment into Opportunity Zones . In two reports issued in June 2020 , two very different organizations , the Urban Institute and the HUD both concluded that the OZ tax incentives are moving money and jobs into places that , but for the OZ program , they would not have otherwise gone . The goal was to get capital investment to go someplace other than to the primary markets like Boston , New York and California . The OZ initiative does exactly that :
OPPORTUNITYZONE . COM