"The Opportunity Zones program encourages long-term investment and job creation in low-income areas of the state, by allowing investors to re-invest unrealized capital gains in designated census tracts." (State of Illinois)
Some of our members find it convenient to look at the wide view of where Opportunity Zones are rather than starting at a neighborhood or ZIP code level. Use one of the "mega areas" we created that divides all of the OZs in Chicago into three sections.
We will try to maintain a list of Opportunity Funds active or that intend to invest in Illinois. Send us yours.
"On April 20, 2018, Governor Bruce Rauner submitted the allowable 327 of the 1,305 qualifying census tracts to the federal government for inclusion in the Opportunity Zone program." (State of Illinois)
The OZ program was established in the Tax Cuts and Jobs Act of 2017, enacted on December 22, 2017. States submitted to the Treasury their list of Census tracts they want designated. View the national map.
A white paper from Economic Innovation Group, the primary advocate for the program, illustrates the additional income earned because of investing in a Qualified Opportunity Fund.