The Answers to Four Questions Determine if Your Region Behind in the Opportunity Zone Battle
February 5, 2019
Maybe it is a silly question since the ink on the IRS regulations are not dry nor are the even written in ink but economic development, elected officials and real estate developers are asking the question—is our region already behind in attracting capital for Opportunity Zones? The answer to four questions determines if your region is behind in this critical economic development opportunity.
Are your Opportunity Zone sites ready for development? Opportunity Zones are on the Treasury list for a reason— they are complex sites that need a government subsidy to succeed. The first question that needs an affirmative answer is whether these census tracts have a site development plan, entitlements and incentives in place that make them an attractive investment opportunity. Erie, Pennsylvania offers an early success story for a community that has its act together related to their Opportunity Zones.
