Opportunity Zones in Oregon
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Date
2020
Authors
Matonte, James
Journal Title
Journal ISSN
Volume Title
Publisher
Department of Planning, Public Policy and Management, University of Oregon
Abstract
In 2017, the Tax Cuts and Jobs Act passed resulting in one of the largest tax code overhauls since the 1980s (Economic Innovation Group, 2018). This piece of legislation lowered all marginal tax rates, as well as attempted to simplify the tax code. While an historic piece of legislation in its own right, a litany of additional provisions and programs were embedded within this 1,000 plus page bill. One of these provisions is the six-page long Opportunity Zones tax incentive. Opportunity Zones are an incentive to encourage long-term investment in low-income communities across the United States through varying levels of tax incentives for investors (Economic Innovation Group, 2018). This report examines Opportunity Zones in Oregon and explores how public and private entities within the state have approached this legislation. This report synthesizes the perceptions and experiences of public and private entities, as well as the federal government and out-of-state jurisdiction approaches to utilizing Opportunity Zones. By implementing a survey and shadowing the creation of a workforce housing development company in Oregon, this report analyzes the use of Opportunity Zones in Oregon. This report finds that for Opportunity Zones to produce positive social impact, significant public planning, public and private partnerships, community engagement, and the mindset of community improvement over maximized financial returns, must be exercised.
Description
72 pages
Keywords
Opportunity Zones, Economic Development, Rural Oregon