Shaping the future of East Metrothrough economic advocacy.
Opportunity Zones and their Potential Impact on East Metro
In 2018, the U.S. Treasury made opportunity zone designations across the country to encourage long-term investments through a federal tax incentive. Governor Brown's nomination resulted in 86 qualified opportunity zones in Oregon. Opportunity Zones can deliver significant tax savings on medium- to long-term investments in economically disadvantaged communities. This new tax incentive pertains to both the capital gains invested initially through a qualified opportunity fund, as well as capital gains earned for the investor from businesses or projects in a zone. Each zone consists of an entire census tract, as established for the decennial U.S. Census. tracts vary in size by generally align with population density. Oregon has more than 800 census tracts, 366 of which were eligible, primarily by meeting the definition of a "low income community" in terms of median family incomes or poverty rates. Ian Galloway of the Federal Reserve Bank of San Francisco will give an in-depth presentation about how Opportunity Zones can impact East Metro. You won't want to miss this.
About Ian Galloway
Ian Galloway is Director of the Center for Community Development Investments at the Federal Reserve Bank of San Francisco. Ian researches and presents regularly on a variety of community development topics including crowdfunding, investment tax credits, the social determinants of health, impact investing, and Pay for Success (social impact bonds). He recently co-edited the book What Matters: Investing in Results to Build Strong, Vibrant Communities, which explores outcomes-based funding and contracting in the social sector. He also serves on the boards of CASA Oregon, Innovative Changes, Youth Villages Oregon, and the Rosewood Initiative. Before joining the Federal Reserve, Ian helped develop a job training social enterprise (virginiawoof.com) for the Portland, Oregon, homeless youth agency Outside In. He holds a master's degree in public policy from the University of Chicago and a bachelor's degree in political science and philosophy from Colgate University.
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Office: (503) 292-8881Fax: (503)-292-8237
PO Box 422Gresham, OR 97030
East Metro Economic Alliance is a 501(c)6 non-profit organization. PO Box 422, Gresham, OR 97030