Why Economic Developers Need To Market Their Opportunity Zones Now
April 6, 2021
Why economic developers need to market their Opportunity Zones now is to attract investors to the underfunded areas of their communities. Opportunity Zone legislation passed in 2017 and is designed to promote growth in stagnant and underdeveloped regions of the country. There are more than 8,700 Opportunity Zones designated through the U.S. in all 50 states, Washington D.C., and five U.S. territories.
Opportunity Zones identify areas where investment is needed to revitalize communities hit the hardest by socio-economic stress. Residents who live in areas designated as Opportunity Zones tend to suffer from unequal economic growth and access to capital. This has only been made worse by the pandemic.
Since there is no way for state and federal programs to properly address the needs of these areas due to lack of resources, political partisanship, and the process of creating and implementing successful economic programs, it is up to economic developers to advocate for their communities and attract investors to Opportunity Zones. To learn more, Download Golden Shovel's eBook: STEP-BY-STEP GUIDE TO MARKETING OPPORTUNITY ZONES.