The U.S. Department of Commerce Economic Development Administration (EDA) has published a Request for Information (RFI) notice in the Federal Register seeking public input on how the federal government can better align its economic development programs and resources in order to encourage and facilitate investments in economically distressed communities, including in qualified Opportunity Zones. EDA recognizes that while Opportunity Zones incentives are intended to leverage private capital, economically distressed communities may not be able to rely on private capital and tax incentives alone to create the necessary conditions for long-term sustainable economic growth. Many communities are also in need of public sector investment and technical assistance.
EDA requests information and input from stakeholders who support economic development in Opportunity Zones, including state, local, and tribal officials; institutions of higher education; nonprofits, philanthropic organizations and other impact investors; economic development practitioners and other experts in relevant disciplines; and affected stakeholders in the private sector. More information is available here. Comments must be submitted by October 18, 2019.