By Ken Silverstein, Microgrid Knowledge
Opportunity zones, created in the US as part of the 2017 Tax Cut and Jobs Act, are making a splash among green energy and microgrid investors. “Opportunity zones create tax incentives for investors in real estate, businesses and assets in areas that might not otherwise draw investment,” says John Beidle, chief executive of New Energy Opportunities, in an interview with Microgrid Knowledge. “The further stacking of tax incentives in these areas for microgrid facilities is really a once in a lifetime opportunity especially if new employment is brought into these areas.”
An Economic Innovation Group analysis estimates $6.1 trillion in unrealized capital gains held by US households and corporations as of the end of 2017. “Even a small fraction of these gains reinvested into opportunity zones would make it the largest economic development initiative in the country,” says John Lettieri, founder of the group, in congressional testimony. Read more here.
Nonprofit Economic Innovation Group (EIG) Image: Opportunity Zones.
EIG is a bipartisan public policy organization that combines innovative research and data-driven advocacy to address America’s most pressing economic challenges. From their headquarters in the nation’s capital, EIG convenes leading experts from the public and private sectors, develops original research, and advances creative policy proposals that bring new jobs, investment, and economic dynamism to U.S. communities.
Additional Recommended Reading
- ‘That’s the way it should be’: Visiting HUD Secretary Ben Carson praises north Omaha’s Highlander development, Omaha World-Herald
- An Unlikely Alliance: Key Figures In The Opportunity Zone Landscape, Forbes
Opportunity Zones Resources
- Opportunity Zones – Economic Innovation Group (EIG)
- EIG’s Frequently Asked Questions
- IRS Opportunity Zones Frequently Asked Questions
- Nebraska Opportunity Zones – Nebraska Department of Economic Development
- Nebraska Opportunity Zones Profile
Microgrid Knowledge Resources