The Opportunity Zone program is a nationwide initiative administered by the U.S. Treasury created under the 2017 Tax Cuts and Jobs Act. The program provides federal tax incentives for investment in distressed communities over the next 10 years. Areas designated as Opportunity Zones will be able to reap the benefits of capital gains to help redevelop undeserved communities. The state was entitled to nominate 149 low-income census tracts to be Opportunity Zones. Once the U.S. Treasury has approved the state’s Opportunity Zone nominations, the designation will be effective for 10 years. The Maryland Department of Housing and Community Development will administer the program with support from the Maryland Department of Commerce. This is a MD iMAP hosted service. Find more information at https://imap.maryland.gov. Feature Service Link: https://mdgeodata.md.gov/imap/rest/services/BusinessEconomy/MD_IncentiveZones/FeatureServer/14

Census tracts designated as Opportunity Zones. Qualified census tracts are those that have a poverty rate of at least 20 percent of a median income that does not exceed 80 percent of the area median income. The opportunity fund model encourages investors to pool their resources in opportunity zones, increasing the scale of investments going to underserved areas. The program provides a federal tax incentive for investors to re-invest unrealized capital gains into opportunity zones through opportunity funds. Under the terms of the program, the governor of each state must submit a plan to the federal government designating up to 25 percent of the qualified census tracts in their state as opportunity zones, which is then subject to approval of the Secretary of the Treasury.

Created in the Tax Cuts and Jobs Act of 2017, Opportunity Zones is a new federal program that provides tax incentives for investments in new businesses and commercial projects in low-income communities. On April 2018, Mayor Bowser nominated 25 census tracts to be Opportunity Zones. The U.S. Department of Treasury certified these tracts on May 18, 2018.

The Opportunity Zones (OZ) program provides tax incentives for equity investments in businesses and commercial projects in designated Census Tracts. The District of Columbia's Opportunity Zone Marketplace is a platform where project sponsors, fund managers, investors, community members, and professional service providers can connect. The Marketplace includes listings of investment opportunities and OZ Community Corps service providers. This platform is managed by the Office of the Deputy Mayor for Planning and Economic Development (DMPED). DMPED assists the Mayor in the coordination, planning, supervision, and execution of economic development efforts in DC with the goal of creating and preserving affordable housing, increasing tax revenue, and creating jobs.

Introduced in 1993, the Empowerment Zone Initiative, along with Enterprise Community Initiative and Renewal Community Initiative, sought to reduce unemployment and generate economic growth through the designation of Federal tax incentives and award of grants to distressed communities. Local, Tribal and State government interested in participating in this program were required to present comprehensive plans that included the principles of: Strategic Visions for change, Community-Based Partnerships, Economic Opportunities and Sustainable Community Development. Communities selected to participate in this program embraced these principles and lef projects that promoted economic development in their distressed communities.

Introduced in 1993, the Empowerment Zone Initiative, along with Enterprise Community Initiative and Renewal Community Initiative, sought to reduce unemployment and generate economic growth through the designation of Federal tax incentives and award of grants to distressed communities. Local, Tribal and State government interested in participating in this program were required to present comprehensive plans that included the principles of: Strategic Visions for change, Community-Based Partnerships, Economic Opportunities and Sustainable Community Development. Communities selected to participate in this program embraced these principles and lef projects that promoted economic development in their distressed communities.

The Enterprise Zone Program is designed to offer tax incentives to businesses that expand their workforce at facilities located in a designated area

Data includes commercial and industrial zones, i.e. areas with specific federal-granted special amenities (tax incentives, loans/grants) meant to attract and support businesses in blighted areas. Blighted areas are defined as meeting one of seven city mandated criteria, including unsafe, unsanitary and inadequate conditions; economically or socially undesirable land use; and faulty street and lot layout.

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