Studies Find Opportunity Zones Have Limited Impact on Poverty and Jobs Despite Aims to Spur Investment in Low-Income Areas
-
Opportunity zones aimed to entice real estate investment in low-income areas, but studies show little effect on poverty, income, or jobs.
-
One study found small increases in wages only in areas already trending upward. Poverty rates continued improving in areas already recovering.
-
A 2023 study found limited impact on job postings overall, but small positive effects in urban areas and those with more Black residents.
-
Factors like COVID-19 may have disrupted success of opportunity zones program and low unemployment left little room for improvement.
-
A Brookings study found the 2017 tax cuts failed to deliver promised investment, growth and income distribution in the first two years.