Opportunity Zones The White House Opportunity and Revitalization Council | HUD.gov / U.S. Department of Housing and Urban Development (HUD)

The White House Opportunity and Revitalization Council

The Opportunity Zone tax incentive provides a tremendous way to bring investments, jobs, business expansion, and new business development to your community. In order to amplify the impact of this tax incentive, the White House Opportunity and Revitalization Council was formed to better coordinate Federal economic development resources in Opportunity Zones and other distressed communities. The Council is exploring the ways in which Federal agencies can better partner with Opportunity Zone investors and provide some of the social services and other support that may be necessary for community revitalization to take place. Communities, investors, and entrepreneurs who want to effect change are not alone in this process.

The following Federal entities comprise the White House Opportunity and Revitalization Council:

Department of Housing and Urban Development
Department of the Treasury
Department of Justice
Department of the Interior
Department of Agriculture
Department of Commerce
Department of Labor
Department of Health and Human Services
Department of Transportation
Department of Energy
Department of Education

Department of Veterans Affairs
Environmental Protection Agency
Office of Management and Budget
Small Business Administration
National Economic Council
Council of Economic Advisors
Council on Environmental Quality
Appalachian Regional Commission
Delta Regional Authority
Northern Border Regional Commission

Objectives of the White House Opportunity and Revitalization Council

The four main goals of the White House Opportunity and Revitalization Council include:

1) to assess the actions each agency can take under existing authorities to prioritize or focus Federal investments and programs on urban and economically distressed communities, including qualified Opportunity Zones;

2) to assess the actions each agency can take under existing authorities to minimize all regulatory and administrative costs and burdens that discourage public and private investment in urban and economically distressed communities, including qualified Opportunity Zones;

3) to consult with officials from State, local, and tribal governments and individuals from the private sector to solicit feedback on how best to stimulate the economic development of urban and economically distressed areas, including qualified Opportunity Zones;

4) to coordinate Federal interagency efforts to help ensure that private and public stakeholders — such as investors; business owners; institutions of higher education; K–12 education providers; early care and education providers; human services agencies; State, local, and tribal leaders; public housing agencies; non-profit organizations; and economic development organizations — can successfully develop strategies for economic growth and revitalization.

Work Streams of the White House Opportunity and Revitalization Council

Work Streams	Lead Agency	Supporting Agencies	Action Items
Economic Development	Department of Commerce	Small Business Administration; Department of Housing and Urban Development; Department of Agriculture; Treasury Department; Department of Transportation; Department of Health and Human Services; Council on Environmental Quality; Environmental Protection Agency	Leverage federal grants and loans in a more integrated way to develop dilapidated properties and provide basic infrastructure and financial tools to attract private investment.
Entrepreneurship	Small Business Administration	Department of Commerce; Department of Energy; Department of Agriculture; Department of the Interior; Department of Veterans Affairs	Leverage government lending and grants to stimulate access to private capital, and promote programs that assist entrepreneurs.
Safe Neighborhoods	Department of Justice	Department of Health and Human Services; Environmental Protection Agency; Department of the Interior	Combat drug addiction and the opioid crisis, reduce crime/enhance public safety, and address environmental contamination obstacles to development.
Education and Workforce Development	Departments of Education and Labor (co-leads)	Department of Health and Human Services; Department of Agriculture; Department of Commerce; Department of Energy; Department of Veterans Affairs	Improve the efficacy of K-12 and community college career and technical education and workforce development programs to better prepare workers in distressed communities for jobs.
Measurement	Council of Economic Advisers	Treasury Department; Department of Housing and Urban Development; Department of Commerce	Develop robust reporting and analytics to measure impact of Opportunity Zones.