Since 2008, more than 2.5 million new jobs were created in the most prosperous ZIP codes, while the least prosperous areas lost nearly 1.5 million jobs, according to research from the Economic Innovation Group. New jobs have flowed into cities, with rural areas across the country still yet to fully recover from the Great Recession. And within cities prosperity is not broadly shared; income inequality is higher in large cities than the country as a whole and wealth inequality has a large and persistent racial bias.
Opportunity Zone investments have the potential to address these economic divides by supporting small business growth and local ownership in communities that have thus far been left out of the recovery. But effort and expertise are needed to ensure that these investments create opportunities that reach people in the targeted communities, and that they extend to women, people of color, those who have been involved with the justice system, and others who have traditionally faced barriers to economic opportunity.
This event explores these issues and considers ideas to focus Opportunity Zone investments in ways that will create jobs and wealth for communities and support small business development and ownership in places that have for too long been left on the sidelines of the economy.
