Ambitious, bold, bipartisan—and controversial, Opportunity Zones can be a powerful policy tool to spark transformative investment in America’s left behind communities.
Passed as part of the 2017 U.S. tax overhaul, Opportunity Zones offer massive potential tax breaks for investors and organizations who plow unrealized gains into impoverished areas. Based on census data and chosen by state governors, there are more than 8,700 official OZs spread across all 50 states.
Cory Booker, N.J. Senator and presidential candidate, told me he considers OZ communities domestic emerging markets.
New laws create new loopholes—and while the spirit of OZs is to make money while also making a lasting change in overlooked areas, some investors will be just in it for the money. At Forbes, we celebrate responsible capitalism and those who do well by doing good. Hot on the heels of our historic Forbes OZ Summit (which featured Sean Parker, Senator Corey Booker, David Robinson, Mayor Eric Garcetti, Governor Phil Murphy, John Lettieri, Jim Sorenson, J.D. Vance, T.I and more), we want to shine a light on the funds and founders making real change. We’re thrilled to partner with the Sorenson Impact Center to launch our new list: The Forbes OZ 20: Top Opportunity Zone Catalysts. Debuting in February of 2020 the list will highlight the best investors and entrepreneurs who are creating lasting change OZ communities across the U.S.
The new Forbes OZ 20 list is powered by the Sorenson Impact Center, based at the University of Utah, which is launching its inaugural, nation-wide competition for the most influential and inspirational OZ communities and investors in America. The four grand prize winners will be announced at Sorenson Impact Center’s Winter Innovation Summit in February 2020, will be showcased on Forbes ,and featured in a Sorenson Impact film. Applications are open now and close August 31st. For OZ entrepreneurs seeking exposure, exclusivity, and legitimacy, there’s no better place. Apply now.
EXPOSURE: Every applicant will be reviewed by the leading Opportunity Zones experts at the Sorenson Impact Center. All 20 finalists will be highlighted by Forbes in its inaugural OZ list. The four Grand Prize Winners will get wide Forbes coverage and a corresponding Sorenson Impact film.
EXCLUSIVITY: Secure entry into this bold community of change-makers and impact investors. The four grand prize winners will be announced at the Winter Innovation Summit.
LEGITIMACY: In the emerging OZ landscape, immediately raise your profile and validate your project. All applicants will receive a confidential OZ Impact ScoreTM and the 20 finalists will be given a confidential, in-depth OZ Impact ReportTM.