Opportunity Zones

University of Illinois Extension Local Government Education | Rural Partners Webinar  

 

 

Kenan Fikri, Director of Research, Economic Innovation Group

 

Wednesday, November 29 at 12 PM CT

 

The federal Opportunity Zones program has rapidly grown into the largest federal community development incentive program in a generation. Kenan Fikri, the research director at the Economic Innovation Group, will share the latest information on Opportunity Zones investment nationally and in the state of Illinois. He will discuss how the investment landscape is evolving, where the incentive is proving most effective, and where the policy goes from here.

Opportunity Zones are an economic development tool that allows for investment in distressed areas of the US. Economically struggling areas usually cannot attract new business, capital developments, or other social investments, historically. Opportunity Zones were established (under the Tax Cuts and Jobs Act of 2017) to 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. To find out more about Opportunity Zones in Illinois, see information and a map at https://dceo.illinois.gov/oppzn.html. 

 

At the end of the presentation, a representative from the Illinois Department of Commerce and Economic Opportunity will provide a brief update and highlight state resources and information on opportunity zones. Q and A discussion will follow.

 

About the speaker:

 

Kenan Fikri serves as EIG’s Director of Research, where he leads a research program that helps policymakers and the public better understand how the U.S. economy is evolving and what it means for people and places. Kenan is a leading scholar in economic geography and development, with dozens of publications and over a decade of experience advising public officials. Prior to joining EIG, Kenan launched his career with the Brookings Institution’s Metropolitan Policy Program and served as a consultant on competitive cities with The World Bank Group. Kenan obtained 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.