Opportunity Zone ‘One-Stop Shop’ Will Help Cities and Towns Attract, Maximize Redevelopment Investment

TRENTON, Nov. 14 — New Jersey Future Executive Director Peter Kasabach released the following statement in response to the new Opportunity Zone “one-stop shop:”

The state’s recently released Opportunity Zone website is a good example of bringing relevant information into the public realm that will benefit local leaders, residents and the business community. The interactive mapping “Navigator” is a useful tool for seeing where the Opportunity Zones are located and what is both in and around them.

While many people still don’t understand that Opportunity Zones do not mint money, the designation does offer a chance for proactive communities to assess their own redevelopment potential thoughtfully and in a focused way, and to plan strategically to create great places that will attract the type of investment that they desire.

The new website also includes information on ways to set goals for Opportunity Zone investments that maximize the benefits to the host communities, and guidelines to allow municipalities to evaluate the success of Opportunity Zone investments in meeting those goals. The focus on making Opportunity Zone investments accountable to the communities that receive them is a critical part of this program, because Opportunity Zones won’t be contributing to Governor Murphy’s vision of a stronger, fairer economy if investors are the only ones who benefit.