The Opportunity Zones Program, enacted in 2017 as part of the Tax Cuts and Jobs Act, is designed to encourage long-term investment in economically distressed rural and urban neighborhoods across the country. Opportunity Zones are census tracts that have been nominated by governors and certified by the U.S. Department of the Treasury to receive Opportunity Funds. These funds are comprised of private capital from investors who in turn receive capital gains tax advantages from the federal government.
Highlights from this snapshot:
- The State of Georgia has 260 census tracts that have been designated as Opportunity Zones. 52 of those census tracts lie within the ARC 10-County region.
- Six of the ten counties in the ARC metro region contain Opportunity Zones within their boundaries: Clayton, Cobb, DeKalb, Douglas, Fulton, and Gwinnett
- In general, compared to the region as a whole, Opportunity Zones in the ARC 10-County Region contain:
- Higher rates of racial/ethnic minorities and foreign born residents
- Higher rates of poverty and lower median household incomes
- Lower rates of educational attainment
- Higher rates of youth (persons under 18 years of age)
- Higher rates of unemployment (almost double the unemployment rate of the nation – 4.8% vs. 9.5%)
Click through the slides below or download the PDF 2019 Federal Opportunity Zones.