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Opportunity Zones: Advancing Infrastructure and Community Resilience on a National Scale
In late 2018 and early 2019, billions of dollars will be flowing into the new tax-advantaged Qualified Opportunity Funds authorized by the Tax Cuts and Jobs Act of 2017. These funds will be seeking out investment opportunities in the 8,761 Opportunity Zones nationwide that have been designated by governors in all 50 states, and approved by U.S. Treasury in June 2018. The Global Resilience Institute (GRI) at Northeastern University and Social Finance US are collaborating on organizing the first major summit to inform how the OpZone program should be leveraged to advance a national-scale effort to improve community and infrastructure resilience. Given how little public awareness there is about the potentially billions of dollars that will soon be invested in Opportunity Zones, this summit provides a timely and important chance for senior state and local officials to interact with experts and major investors and fund managers to ensure that these investments concurrently advance community economic and social goals while also being financially sound. The summit will be structured to be informative, highly interactive, and consequential; i.e., the goal will be to identify a set of shared principles and processes that can serve as a “best-practice” guide for Opportunity Zones investments.