Opportunity Zones, But for Whom?

If you’re plugged into the urbanist blogosphere, you’ve probably heard something about the new federal Opportunity Zones by now. And you might even think they sound pretty good. After all, anything that incentivizes investment in underserved areas sounds like a pretty good deal—and by eliminating capital gains taxes on new development in some of the poorest regions of your state, there’s no doubt that the money will come pouring in.

But Upzoned hosts Kea and Chuck aren’t so sure. Is a big bucket of money really what these neighborhoods need? Will outside developers really build the kind of locally responsive, fine-grained stuff that would make these towns strong and lift up the people who are already there? What would a better Opportunity Zones program look like—or is using a federal program to develop a neighborhood like steering an ocean liner with a canoe paddle?

And then in the Downzone, Chuck and Kea talk about their recent reads. Hear Chuck’s final thoughts on Mariana Mazzucato’s The Value of Everything, and get the behind-the-scenes scoop on Kea’s recent interview with author William Knoedelseder on his new book Fins: Harley Earl, The Rise of General Motors and the Glory Days of Detroit.