When listing the accomplishments of his administration, President Donald Trump usually cites the strong economy. One of his economic strategies has been the establishment of so-called opportunity zones – there are more than 600 of these in Texas. But what are these zones, and are they really helping drive economic growth?
Matt Patton specializes in research statistics and geography at Angelou Economics, a consulting firm in Texas. He says an opportunity zone is a “community development instrument” that’s meant to spur economic growth in low-income areas. In Texas, most opportunity zones are in rural areas.
Patton says opportunity zones exist in areas with populations ranging from 1,200 to 8,000 people.
“If it’s done correctly, a well-funded opportunity zone has the chance to pull people out of generational poverty,” Patton says.
What you’ll hear in this segment:
– What opportunity zones offer to investors
– What incentives keep investors committed to staying in opportunity zones
– How rural areas can be made more attractive to investors through these zones
Written by Shelly Brisbin.