The Philadelphia Citizen: TO GROW OR NOT TO GROW

Press Coverage: 28, June 2019
Philly Skyline

Written into Trump’s 2017 Tax Cuts and Jobs Act, the designation of over 3,800 census tracts across the country as “Opportunity Zones” was pushed through... giving private investors a new incentive—centered around the deferral, reduction, and elimination of capital gains taxes—to invest in places that are usually overlooked.

“Given this impetus, which could unlock hundreds of billions of dollars in equity capital, private and public actors are talking about community investment more than any time in recent memory,” writes Drexel’s Bruce Katz.


Katz has been intimately involved with the nonprofit Accelerator for America, the brainchild of Los Angeles Mayor Eric Garcetti, which brings Silicon Valley-like support in the form of networks, mentorship, and capital to civic entrepreneurs on the front lines of building ladders to the middle class. Their slogan reads: “With Washington broken, local innovators are taking action.”

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