High Impact Opportunity Zones in Illinois

 

Tuesday, December 16 at 10 AM CT

 

The federal Opportunity Zones program has rapidly grown into the largest federal community development incentive program in a generation. Opportunity Zones are an economic development tool that encourage investment in distressed areas that usually cannot attract new business, capital developments, or other social investments. Opportunity Zones (established under the Tax Cuts and Jobs Act of 2017 and made permanent in the OBBBA) allow investors to have significant tax benefits. Increasing incentives for investment in communities in need allows for economic growth and job creation. If done properly with community-driven workforce initiatives, households can increase their income and quality of life.
 
Economic Innovation Group (EIG) has just published OZs 2.0 Guidance for Governors and Mayors: A Playbook for High-Impact Designations. The guide aims to give state and local officials the clarity and confidence they need to make informed selections for the next round of Opportunity Zone census tracts.
 
Join Illinois Extension to learn about the specific principles that define successful OZ designation strategies, as well as considerations on how to increase the quantity, quality and committed capital for Illinois' low-income communities. 

 

About the speaker:

 

Kenan Fikri is a Senior Fellow at EIG and a leading scholar in economic geography and development. In his role, Kenan aids the research department in helping policymakers and the public better understand how the U.S. economy is evolving and what it means for people and places. Kenan is a proud alumnus of the U.S. Department of Commerce, the Brookings Institution’s Metropolitan Policy Program, and The World Bank Group. He holds his Master’s degree in Local Economic Development from the London School of Economics and his Bachelor’s in International Relations and Economics at American University.