A popular Silicon Valley idiom that has been heard across the nation is particularly appropriate in conveying the state of mind of community development professionals working with the opportunity zones (OZ) incentive: “We’re kind of flying the plane while we’re building it.”
The OZ incentive is available, but many questions are unanswered. As a consequence, many users of the incentive are moving forward, but doing so slowly, cautiously and in limited ways. As myriad OZ tax questions are answered and, as importantly, patterns of practice develop, use of the OZ incentive will greatly expand, larger dollar amounts will be invested and the great potential of opportunity zones will begin to be realized.
