The Opportunity Zone tax incentive was conceived as a tool to promote economic development, job creation, poverty reduction, and support for new businesses in areas of concentrated poverty. After a couple of years of sizable investments flowing into these newly designated zones, Smart Growth America wanted to take look at the impact.

Are these investments supporting small business stability and growth, achieving the stated goal of place-based economic development and job creation in distressed communities? If not, why not? And what are the risks and rewards specifically for minority-owned legacy businesses within Opportunity Zones?

Unrealized Gains