USA Opportunity Zones: StatsAmerica

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Mission: providing data and empowering communities, regions and public officials to make Opportunity Zones Investment Ready!

Access the Opportunity Zone Tool

Overview

Intended as a concise, powerful tool to link OZs and EDA investments. Combining location information showing where the zones are (the map) with reports that describe the zone itself in economic and demographic terms while showing the intersection of EDA's Economic Development District and University Center programs. Additionally, economic developers can see the zone in the context of its congressional district, Economic Development District, State, and EDA (multi-state) Region. Content of each report includes EDA investments near or in the zones or the regions, demographic and economic metrics.

More than 8,700 opportunity zones have been designated across the United States, established as part of the 2017 Tax Cuts and Jobs Act, and are intended to foster long-term private sector investments in low-income communities. We can now begin to show the intersection of EDA's public investments and activities (more information will be added) near or within these zones. Also, we will be integrating the opportunity zones geography throughout StatsAmerica.

This tool can provide support to EDA-designated Economic Development Districts (there are more than 390 across the U.S.) as well as local economic and community developers, helping them integrate local investment information with publicly supported projects in or near these zones.

As EDDs either develop their new 5-year comprehensive economic development strategies or enhance them, the integration of opportunity zones as a new investment opportunity will be important. Just like other StatsAmerica tools, this one is easy to use: just zoom the map to an area of the country, click on a blue-shaded census tract (those are the opportunity zones) and scroll down to view multiple reports from the perspective of the zone itself, the congressional district, state or Economic Development District (EDD) the zone is part of, providing some unique context for economic developers.

What Are Opportunity Zones?

Qualified opportunity zones were created by the federal 2017 Tax Cuts and Jobs Act and designed to spur economic development to allow for impact investments.

These zones (8,764) consist of low-income census tracts nominated by each of the 50 states and U.S. territories and comprise economically distressed areas where new investments may be eligible for referential tax treatment and the resulting investments, according to the U.S. Treasury.

The IRS and the Community Development Financial Institutions Fund (CDFI) are responsible for the program and provide multiple resources to learn more about how the zones are designated and how zone funds are being set up.

View the additional resources section to learn more about some of the other federal government programs that support investment in opportunity zones.