Ken Gross, Evan Weiss and Bruce Katz · February 19
Health Care and Opportunity Zones: The Game Begins

The Opportunity Zone incentive is a new community investment tool established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income communities. The Act creates a tax incentive for investors to re-invest their capital gains into dedicated Qualified Opportunity Funds (“QOF”). Of the 8,762 census tracts across the county that have been designated as Opportunity Zones, 2,905 (33%) either contain a hospital or are ½ a mile from a hospital. While much of the early attention given to Opportunity Zone investing has focused on many of the “usual suspect” cities, hospitals and healthcare systems are a unique institution in that they’re represented in almost every kind of community—serving big city neighborhoods, mid-sized cities, small towns, and rural areas. Hospitals can play a leading role in efforts to attract, organize, and even make QOF investments in the communities that they serve.

Bruce Katz · February 13
Playing “Gotcha” with Opportunity Zones

In the past couple months, the national media has been replete with stories about the pitfalls of Opportunity Zones. Some stories have focused on the curious selection of robust, gentrifying areas Zones, raising the prospect that scarce federal resources will be allocated for projects that would have happened anyway and merely spark more gentrification. Other stories have focused on projects that either benefit well-off global companies or have little social value. There is even a Trump angle to explore given the real estate interests of the Kushner clan.

Bruce Katz · January 30
Mayors for President

In the past week, there has been a flurry of articles about mayors (and former mayors) running for president (see, e.g., The announcements of South Bend Mayor Pete Buttigieg and former San Antonio Mayor Julian Castro (and the likely announcements of former mayors like Senator Cory Booker and (former) Colorado Governor John Hickenlooper) have clearly captivated the media.

Bruce Katz · January 16
The Unanticipated Effects of Opportunity Zones

As many of us involved in cities know, the indirect effects of large policy changes are often more important than the direct ones. The development of cities in the latter half of the 20th century was driven more by the Interstate Highway Act (negative) and the Immigration Reform Act of 1965 (positive) than by any law with “Urban” or “City” in the title. The Opportunity Zones tax incentive is shaping up as another federal intervention with multiple, indirect effects.

Bruce Katz, Co-authored with Ross Baird · January 3
Welcome the New Community Institution

Happy New Year!

As many of you know, I (and a group of fellow travelers) have become virtually obsessed with building a new set of local institutions that align with our 21st century economy and society and unlock and deploy capital for a new kind of purposeful growth.

Bruce Katz, Co-authored with Evan Weiss · December 19
From Amazon Bids to Opportunity Zones

For the past year, US cities have been transfixed by Amazon’s intention to build a second headquarters. An incredible 238 cities prepared bids to woo the tech behemoth and, in many cases, offered a plethora of incentives, ranging from enormous tax abatements to infrastructure improvements, free land and special fiber broadband networks.

Bruce Katz · December 5
Prospectus Guide

Last week Accelerator for America and the Nowak Metro Finance Lab at Drexel University released a policy brief entitled “Opportunity Zone Investment Prospectus Guide.” The paper, co-authored by Ken Gross and myself, can be found here.

Bruce Katz · November 21
Creating Institutions that Work

On November 14-16, we held a “soft” launch of the Nowak Metro Finance Lab at Drexel University with a several-day hands-on working session among a high-level group of reflective U.S. and European practitioners.

Bruce Katz · November 5
Drinking from an OZ Firehose

With election fever rightly seizing the land, I have spent the past several weeks visiting six separate cities — Albuquerque, Cleveland, Dayton, Madison, New Orleans and Winston-Salem. This whirlwind travel has given me a chance to tour dozens of Opportunity Zones and get an on the ground feel for market condition, practitioner energy, investment possibilities and social challenges.

Bruce Katz · October 23
How Cities Maximize Opportunity Zones

Yesterday Accelerator for America and the Nowak Metro Finance Lab at Drexel University released a policy brief entitled “From Transactions to Transformation: How Cities Can Maximize Opportunity Zones.” The paper, co-authored by Evan Weiss and myself, can be found here.