Discover and read the best of Twitter Threads about #opportunityzones

Most recents (10)

It looks like my colleagues @WhipClyburn and @RonWyden are in backdoor negotiations to systematically destroy my #OpportunityZones initiative. Y'all know me and I'm going to be completely frank here — they're only doing this because it has the support of @realDonaldTrump.
This is the second misguided attempt by Congressional Democrats in the last two weeks to wreck the #OpportunityZone initiative under the guise of ‘improvement.’ Word on the street is that The Squad is coming after the program too in the next few days/weeks...
Some facts about #OpportunityZones for y'all:
✔️ An estimated $63 billion can already be expected to be invested into them
✔️ There are 8,700 Zones with the average poverty rate of 29%

It's easy to lay out numbers, but these are people's LIVES that we're talking about.
Read 10 tweets
When people ask me “what do you write about?” Generally I typically say something like “economic revitalization for historically disinvested communities.”

But that of course still encompasses many things. Here is a thread of one of those things: shifting the flow of capital.
Shifting the flow of capital also encompasses many things, but it’s definitely one of the common threads that runs through my work. It's about cities or communities gaining access to or influencing large, existing pools of capital that typically ignore their needs.
Retirement assets are one of the biggest pools of capital out there, with more than $27 trillion in public and private retirement program accounts. Here’s a story I wrote about how a tiny but growing slice of those assets are financing affordable housing…
Read 29 tweets
The peach state's looking forward to seeing you Mr President. God Speed because Georgia🍑has YOU on our minds ❤️🇺🇸🌹
Subject: Travel pool report 2 - arrival Marietta GA/greeters…
The President is attending a luncheon at The Whitley, Atlanta *Buckhead
🍑Georgia World Congress Center
#BlackVoicesForTrump ❤️🇺🇸 #MAGA2020Landslide
Read 9 tweets
(1) I'm disappointed that the @nytimes chose to cherry pick a handful of anecdotes about the #OpportunityZones marketplace to support conclusions that don't reflect the reality of this bipartisan program that is having real impact around the country.…
@nytimes (2) Let's start at the outset: Referring to this program as a Trump tax break is in itself disingenuous. The #OpportunityZones legislation was cosponsored by nearly 100 Members of Congress, proportionally divided between GOP & Dems, including several Dem candidates for President.
@nytimes (3) I'm deeply aware of the efforts to get bipartisan support, including economists like @econjared & @Austan_Goolsbee, because I was one of the co-founders of @InnovateEconomy, and served as CEO when the #OpportunityZones program was formulated, after my time in the Obama Admin.
Read 20 tweets
1/ I read today’s @NYTimes piece on #Opportunity Zones. A few thoughts:…
2/First reaction: it's impossible to say that Opportunity Zones have been a “Bonanza” for anyone. We are in *such* early days. Opportunity Zone funds will not have any returns for ten years, minimum (this was intentional, it’s patient capital!)
3/ The narrative that a “wave of developments” is happening is not yet true. Opportunity Zone funds across the country have raised less than 10% of their goals. It is a new market and most people are very cautious.
Read 19 tweets
The FACTS tell a very different story. It's why I stay on twitter Mr President. Somebody has to tell the truth! ❤️🇺🇸🌹
❤️🇺🇸 This is the real story Mr President ~ Your directive to always put America First. #HireAmericanBuyAmerican

Productivity Rises at Solid 2.3 Percent, Beating Expectations… via @epochtimes
@EpochTimes ❤️🇺🇸 President Donald J. Trump Remains Committed to Expanding Energy Production and Increasing Manufacturing in the United States… via @whitehouse
Read 12 tweets
❤️🇺🇸 #ResoluteReads — The White House • May 18, 2019
Real news President Trump doesn't want you to miss ~
❤️🇺🇸 #ResoluteReads
James Carafano: Why Trump’s immigration speech is a game-changer #FoxNews
Read 17 tweets
#OpportunityZones is the largest community development initiative in a generation. However, size isn't the program’s only strength; it is the flexibility of this policy that makes it a potential game changer for communities.
The low-income communities that comprise OZs have a wide range of needs. #OpportunityZones offer communities an adaptive tool to support their own local approach to economic development. Some examples illustrate the opportunity and impact:
In East Chicago, a 225-acre contaminated brownfield was thought to be too expensive to restore but with an #OpportunityZones designation, it’s now being converted to a logistics center and is expected to support as many as 3,000 jobs.…
Read 14 tweets
On this slow news day, here are some thoughts on how the new #OpportunityZones regs are a game-changer for investment in local operating businesses, as covered by @jimtankersley in today’s NYT.…
The new regs cover lots of issues that will help the marketplace scale, diversify, and avoid abuse. But most importantly, they remove some of the most significant uncertainties that have held back investment in local entrepreneurs & businesses with growth potential.
Until now, Treasury’s guidance did little to facilitate local business investment, which Congressional leaders, community stakeholders, and outside advocates see as the core goal & promise of the #OpportunityZones initiative.
Read 23 tweets
#OpportunityZones people: here is a preliminary, non-exhaustive thread of the Top 15 issues covered in yesterday's IRS release of 169 pages of new OZ regulations. Spoiler alert: They cover a ton of ground, and will be the fulcrum point for far more capital being invested in OZs
(1) Investors can transfer non-cash property into an OZ Fund and receive the OZ benefits, but the amount of investment is limited to the adjusted basis in the property, and if the fair market value exceeds the adjusted basis, the investment is treated as a mixed funds investment.
(2) Transfer of OZ interests via gift ends the tax incentive, but the incentive is preserved when transferred to the owner's estate after death.
Read 21 tweets

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