Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act, signed into law by President Donald J. Trump on December 22, 2017, to stimulate economic development and job creation, by incentivizing long- term investments in low-income neighborhoods.
There are more than 8,760 designated Qualified Opportunity Zones (PDF) located in all 50 States, the District of Columbia, and five United States territories. Investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged or until December 31, 2026.
EDA is encouraging our economic development partners to think of Opportunity Zone investment as a new arrow in their quiver to not only enhance ROI for business interests, but also to encourage the public/private partnerships needed to drive private investment to distressed areas.
To find out more, please visit our Opportunity Zones page.
Assistance to Coal Communities 2018 (ACC 2018)
Through ACC 2018, EDA designates a portion of its EAA funding to support communities and regions that have been negatively impacted by changes in the coal economy.
EDA Vista Corps
EDA provides funding and technical assistance to advance prosperity in distressed communities, while CNCS provides human resources in the form of “Volunteers in Service to America” (VISTAs).
The Americas Competitiveness Exchange (ACE)
The Americas Competitiveness Exchange (ACE) is the premier economic development, innovation, and entrepreneurial network of the Americas and is one of the leading High–Level events of the Organization of American States (OAS). ACE is convened in the context of the RIAC by its Chair Pro Tempore (revolving every two years); the Government of the United States, through the U.S. Department of Commerce [the Economic Development Administration (EDA) in coordination with the International Trade Administration (ITA)] and the U.S. Department of State; and the General Secretariat of the OAS as the RIAC Technical Secretariat. The ACE brings together up to 50 senior-level government, business, policy, and economic decision-makers from across the Americas and beyond to experience first-hand the diverse range of projects, strategic investments, public-private partnerships, and best practices from a particular region’s economic, innovation and entrepreneurship ecosystem. These top global leaders are selected to participate in the week-long program to engage with innovation hubs, advanced technology centers, leading firms, educational and research institutions; explore local, regional, urban, and rural economic development models; share experiences and knowledge; build networks to enhance competitiveness in the Americas; promote sustainable and inclusive economic development; and increase trade and investment opportunities.