Opportunity Virginia Unveils Opportunity Zone Website and Announces Partnership with The Opportunity Exchange
Opportunity Virginia, an initiative of Virginia Community Capital and LOCUS Impact Investing, launched its new Opportunity Zone website for the Commonwealth of Virginia and announced a partnership with The Opportunity Exchange, a national project and impact-tracking platform that helps communities maximize the impact of the federal “OZ” program. The two will work together to identify, support, and showcase OZ projects from across Virginia to the growing number of eligible investors nationwide. The site is found at www.opportunityva.org.
“This website and our partnership with The Opportunity Exchange will help us educate stakeholders about the Opportunity Zone incentive, share project ideas, and connect investors to businesses and property in OZs,” said Adam Northup, Executive Director of Opportunity Virginia.
Created in the Tax Cuts and Jobs Act of 2017, Opportunity Zones is a federal program that provides tax incentives for investments in new businesses and commercial projects in low-income communities. Opportunity Virginia will serve the Commonwealth’s 212 Qualified Opportunity Zones in partnership with the Virginia Housing and Development Authority, Department of Housing and Community Development, and the Secretary of Commerce and Trade.
Through the marketplace website, Opportunity Virginia and The Opportunity Exchange work in tandem to educate stakeholders on the OZ program, share project ideas and pipeline, and connect investors to businesses and property in Virginia Opportunity Zones. Opportunity Virginia’s website helps to build the network between projects, communities, and investors and is the realization of an April announcement by Governor Ralph Northam to create such an online resource.
“We are excited about this new partnership and to work together towards advancing inclusive growth and a more prosperous future for all Virginians,” said Peter Truog, Founder of The Opportunity Exchange.
• To submit a project into Virginia’s pipeline, click here.
• To see the current list of listed projects in Virginia, click here.