Norwich Community Development Corp Explores Federal ''Opportunity Zones'' Program

Last December, federal lawmakers created the federal Opportunity Zones program for investors to re-invest their unrealized capital gains into Opportunity Funds – private investment vehicles dedicated to community, business, real estate, and economic development activities in America’s lowest-income communities.

On November 27, Norwich Community Development Corporation (NCDC) sponsored a workshop in cooperation with the Connecticut Economic Resource Center (CERC), Pullman & Comley, and the Southeastern Connecticut Enterprise Region (seCTer), to explore the new federal Opportunity Zones program and educate business how to grow through long-term investments in low-income communities.

The event provided a comprehensive background and expert analysis of the new program, as well as recommendations for cities, philanthropies, advocates, and private sector representatives interested in Opportunity Fund creation, operation, and management and equitable development outcomes throughout our nation’s 7,927 newly designated Opportunity Zones.

CLICK HERE to view the powerpoint presentation from the November 27th seminar in City Hall.