Enterprise’s Opportunity Zones Platform
Enterprise offers an unmatched combination of experience, expertise and technology to deliver on the promise of Opportunity Zones.
Powered by our Opportunity360 platform, our data-driven approach advances equitable and inclusive economic growth while pursuing compelling financial returns.
From Opportunity Fund investments and investment mapping, to measuring and reporting impact, to government advisory services and policy implementation, Enterprise’s integrated capabilities are designed to unlock at least $1 billion in investments in Opportunity Zones over the next decade.
Enterprise is exploring the creation of a family of Opportunity Funds that generates attractive investor returns alongside equitable and inclusive economic growth, creating pathways to economic mobility for residents.
- Thoughtful Impact: Our investments will aim to spur equitable growth and inclusive communities through well-designed homes, mixed-use developments, startup and entrepreneurial space, and more.
- Responsible Returns: Our funds will target compelling risk-adjusted investor returns.
Mapping, Measuring and Reporting
Enterprise’s proprietary technology platform Opportunity360 offers a powerful way to map, measure and report on all 8,700+ Opportunity Zones.
- Find and map every Opportunity Zone in the country.
- Identify areas of strength and opportunity in each zone based on five dimensions: housing stability, education, health and well-being, economic security and mobility.
- Generate custom reports that offer insight on community needs and assets in each zone.
Local Government Guidance
Enterprise will provide technical assistance to states and municipalities to guide the implementation of Opportunity Zones in alignment with local priorities and objectives.
- Prepare local governments to leverage the impact of Opportunity Fund investments to cultivate equitable and inclusive communities.
- Assist with planning, strategy development and project prioritization to foster thoughtful investment outcomes.
Enterprise is committed to working with policymakers at all levels of government to ensure that Opportunity Zones fulfill their potential of creating broader access to opportunity for low-income residents and businesses.
- Advocate for transparency and accountability in Opportunity Fund implementation.
- Support policies that promote inclusive and equitable economic growth and protect residents and businesses from involuntary displacement.
Opportunity Zones Background
Created in the 2017 Tax Cuts and Jobs Act, Opportunity Zones are designed to drive long-term capital into low-income communities across the nation, using tax incentives to encourage private investment into designated census tracts through privately- or publicly-managed investment funds.
Designating Opportunity Zones
In early 2018, governors nominated Opportunity Zones in each state. By June, Treasury had approved Opportunity Zones in all 50 states, five territories, and Washington, D.C.
Locate and learn about the 8,760 newly designated Opportunity Zones with our Opportunity360 platform.
Tax Benefits of Investing in Opportunity Zones
Created as part of tax reform, Opportunity Zones offer incentives to private investors taking an equity stake in community development at the nexus of need and opportunity. Tiered tax benefits are tied to investments at five, seven, and 10-year terms. Benefits include a temporary deferral and small reduction of tax liability, as well as - in some circumstances - a full exemption on earnings.
Status of Implementation and IRS Guidance
Our former CEO Terri Ludwig testified to the Joint Economic Committee that with the right regulations and guardrails in place, Opportunity Zones have the potential to catalyze inclusive economic growth in some of the nation’s most distressed neighborhoods. Our Opportunity Zones Overview brief (recently updated) has been used for high-level information on Opportunity Zones, and our March 2018 comments to Treasury provides insights on how the tax incentive could be implemented to maximize the value of capital flowing to distressed communities over the next decade.
The IRS has released two rounds of Frequently Asked Questions (April, June 2018), and additional guidance is anticipated before the end of 2018. However, the uncertainty in both timing and items needing clarification have spurred letters to Treasury that outline specific requests for guidance.
Need More Information? Start Here
Are you now living or working in an Opportunity Zone? Is the community you serve a newly-designated Opportunity Zone? Are you thinking of investing in Opportunity Zones?
You may be interested in understanding more about the characteristics of those neighborhoods. Our Opportunity 360 maps and reports will help you better understand the characteristics of all 8,700+ Opportunity Zones. Use the information provided to create data-informed strategies for policy development, investment, and impact measurement.
Opportunity360 Measurement Reports
This report is comprised of over 200 data points aggregated from both public and proprietary sources and enhanced by resident insights about the community. Enterprise has built a framework around these data sets to create Opportunity Scores for each census tract across five distinct pathways towards positive outcomes for residents.
An Early Overview of Program Details and What’s Ahead
This webinar recording includes an overview of the tax incentive, implementation details, as well as what states and advocates should be considering in the coming months as Opportunity Zones are designated. The new census tract designation mapping tool is also highlighted in this recording. (slides only)
Nominating Opportunity Zones
In our second webinar, we demonstrate the Opportunity360 state mapping tool, review responsibilities of governors in the Zone nomination process, and discuss how some states are engaging local elected officials and other stakeholders. (slides only)
Analyzing Opportunity Zone Nominations and What States Should Do Next
During our third webinar, we analyzed the results of Zone nominations in select states and discussed ideas for local policies and programs that could maximize the benefit of investments incented through Opportunity Zones.
State and Local Policies to Prevent Displacement
- Part 1: A discussion of anti-displacement policies that help ensure existing residents and businesses can benefit from, and participate in, the growth and economic development that occurs in a community, particularly for communities at risk of gentrification. session recording and PowerPoint presentation
- Part 2: A look at policies that can be pursued at the state and local level to attract investments to specific communities or projects through the creative use of incentives. session recording and PowerPoint presentation.
Opportunity Zones: The Latest Insights from Across the Nation
In this August 22, 2018 webinar the Enterprise team and guest Katie Kramer from the Council of Development Finance Agencies presented a 360-degree update on Opportunity Zones. We discussed:
- Who’s launching Opportunity Funds and our strategy for creating a platform of funds
- Updates from the Hill and the latest on additional guidance from the IRS; and
- How cities, regions, and states are planning for investment and engaging local stakeholders.
- Plus we shared information on the tools and resources available to you on our website, including how to access free 25-page reports for every Opportunity Zone in the nation.
- Watch the session recording and view the PowerPoint presentation
The federal government’s hub for information featuring the IRS FAQs and Revenue Procedure, as well as a sortable list by state designations of all eligible census tracts.
- Internal Revenue Service – Opportunity Zones FAQs
- U.S. Department of the Treasury’s CDFI Fund - Opportunity Zones Resources
- Economic Innovation Group - Opportunity Zones resource page
- US Impact Investing Alliance – Opportunity Zones resource page
- Georgetown University’s Beeck Center – Guiding Principles for Opportunity Zones
- Council of Development Finance Agencies - Opportunity Zones resource page
- Kresge Foundation - First Principles: Opportunity Zones need responsive, transparent and long-term investments
- Transform Finance - Investor Network Webinar on Opportunity Zones
- Urban Institute - Maximizing Return on Public Investment: Scorecard Dataset
- Federal Reserve Bank of St. Louis - Opportunity Zone Investment Explorer
- Your Call Radio - Can tax incentives draw investments without driving displacement?
- Novogradac – Map: State Tax Code Conformity - Personal Income | Map: State Tax Code Conformity - Corporate Income
Read Opportunity Zones blog posts for in depth coverage, explanations, and new resources as they are made available, and sign up to receive Community Developments and Capitol Express e-mails for updates.