In May 2018, governors across the country designated thousands of Opportunity Zones. These Zones are low-income census tracts that require resources such as capital in order to grow.
The Economic Innovation Group, Sean Parker’s think tank, has the best mapping tool for investors. If you haven’t already, I recommend checking out the map and state-by-state Opportunity Zone resources. The EIG is a fantastic tool for anyone who needs an independent view regarding this Tax Act.
Also, check out Jimmy Atkinson’s OpportunityDB mapping tool powered by ESRI. This is a powerful layering tool to identify locations of assets that may be in Opportunity Zones. One of the reasons why real estate investors have already begun picking the best investments in each zone. Businesses on the other end can be more challenging to qualify. Novogradac has a neat mapping tool for identifying overlapping zones such as housing developments and Enterprise Zones.
Map created by OpportunityDb.com
Being a Jersey boy, the most impressive mapping tool for me is by the state of New Jersey. First this is a fantastic use of technology by the government and second, it tracks projects in the state. The map contains relevant housing, economic, and demographic information for each Zone.
We are working with several public sectors and tools like this certainly help track progress and provide a framework for the community. Amazing to see how mapping technology has advanced over the past decade, now helping investors and consumers.