More optimism being expressed about OZ investments in companies, not just buildings
The new guidelines about the federal Opportunity Zone (OZ) program were “more generous than many practioners expected,” and it has spurred “immediate interest” in venture capital funds aimed at the more than 8,000 qualified neighborhoods, according to John Lore, Managing Director at Capital Fund Group.
In this recent article where a number of individuals are quoted, there seems to be more optimism about the likelihood of funds investing in businesses, not just real estate. The reason is that the latest guidance from the Internal Revenue Service says that companies can also qualify for OZ funding if half of the total hours worked by employees or total dollars paid to employees were in an OZ tract.
