Last Friday, the White House Opportunity and Revitalization Council visited Cleveland and other parts of Ohio to continue its tour of Opportunity Zones. The Small Business Administration was also present to speak with small business owners about how the program can spur investment and drive local hiring.
The meeting gave Cleveland’s OpportunityCLE coalition the chance to highlight key projects happening in Cleveland Opportunity Zones. OpportunityCLE is a collaborative effort between Cleveland and Cuyahoga County’s robust network of public, private, and philanthropic partners. To learn more about this work, click here.
Opportunity Zones were established by the Tax Cuts and Jobs Act of 2017 with the goal of creating long-term investments in regions of low-income rural and urban communities. The program provides tax incentives for investors to re-invest within Opportunity Zones. Members from the White House Opportunity and Revitalization Council were hosted by GCP this past May—and last week’s meeting served as a critical touchpoint to connect small businesses to resources.