In 2017, the Opportunity Zones incentive was established in the USA in order to spur private investment in low-income, ‘left-behind’ areas across the nation. By allowing investors to re-invest their unrealized capital gains into dedicated Opportunity Funds, the incentive aims to connect communities with the capital they need in order to thrive.
Given the significant interest already shown by investors, it is possible that this new tax incentive could attract substantial private capital, which, when paired with thoughtful planning and aligned local leadership, has the potential to engender inclusive, sustained growth in struggling areas.
But how exactly does the incentive work? And could the UK think about setting up its own version?
To explore these questions, Andrew Carter is joined by Bruce Katz, who is the director of the Nowak Metro Finance lab at Drexel University, former director and co-founder of the Metropolitan Policy Programme at Brookings Institution, author of The New Localism with Jeremy Nowak as well as The Metropolitan Revolution with Jennifer Bradley.
This episode is part of the Centre for Cities City Talks series. Please rate, review and share the episode if you enjoyed it.
City Talks: Party conference special - where do politicians stand in the devolution debate?
City Talks: Jonathan Rodden on the deep roots of the urban-rural political divide
City Talks: Dr Julie Grail, Chris Brown and Rebecca McDonald on the future of the British high street
City Talks: Otto Saumarez-Smith on the politics of 1960s radical urban renewal
City Horizons: Britain beyond Brexit with Gavin Kelly and Nick Pearce
City Talks: Michael Parkinson on bringing Liverpool back from the brink
City Talks: Neil O’Brien MP on building a strong national economy from the bottom up
City Talks: The rising threat of air pollution in cities – and how to fight back
City Talks: Where have all the good jobs gone? With David Blanchflower
City Talks: Why cities look the way they do
City Talks: Cities – the first 6,000 years
City Talks: Inventing future cities
City Talks: Mapping the geography of anti-EU sentiment
Event catch up: Cities Outlook 2019 launch
City Talks: A mind of its own - uncovering the psychology of cities
City Talks: How will Brexit affect cities?
City Talks: Is your council about to go bust?
City Talks: Amy Goldstein on the story of Janesville and its response to economic shock
City Talks: The UK's productivity problem and how to tackle it
Create your
podcast in
minutes
It is Free
City Manager Unfiltered
Potencial Americano
The ASIC Podcast
The Chris Plante Show
Red Eye Radio