AJC Local In-Depth: Opportunity Zones
Atlanta receives $1 million to guide investment in distressed areas
Atlanta Mayor Keisha Lance Bottoms listens as Rockefeller Foundation President Rajiv J. Shah announces a $1 million award to help the city attract investment in economically distressed areas.
The City of Atlanta is receiving nearly $1 million to attract business and investment into the city’s most economically distressed areas.
The Rockefeller Foundation is awarding the city the money over a two-year period to promote responsible private investment created by Opportunity Zones, established under the 2017 Tax Cuts and Jobs Act.
There are 26 federally designated Opportunity Zones in the city that are home to 82,000 people.
The zones provide incentives to investors by deferring, reducing or eliminating capital gains tax if the gains are re-invested back inside the zone.
