Enterprise’s Opportunity Zones Platform
Enterprise is building a comprehensive platform of financing, services and resources for inclusive, equitable and intentionally-implemented Opportunity Zones. By aligning private investments with local priorities, Enterprise plans to generate $1 billion in Opportunity Zones investment activity over the next decade.
Enterprise is exploring the creation of a family of Opportunity Funds that target revitalization and inclusive economic development through responsible investments and measurable impact.
Contact us for more information about our Opportunity Funds and financing offerings.
Mapping, Measuring and Reporting
Opportunity360 is a mapping, measuring and reporting platform for all 8,700+ Opportunity Zones.
- Find and map any and every Opportunity Zone in the country
- Access the same platform states used to help nominate zones
- Identify areas of strength and opportunity in each zone based on five dimensions: housing stability, education, health and wellbeing, economic security and mobility
- Customize your search through a variety of filters
- Access free Opportunity360 Measurement Reports which provide key details on social determinants and conditions in each tract.
State and Local Advisory Services
Enterprise provides technical assistance to states and their jurisdictions to guide the implementation of Opportunity Zones according to local priorities and objectives.
Enterprise has been working since day one on the equitable and intentional implementation of Opportunity Zones.
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
Enterprise 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 January 2018 policy brief (update available soon) 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
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?
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.