From OEDA: Communities across Ohio are realizing their possibilities for growth because of the investments Ohio is undertaking. Ohio has 320 Qualified Opportunity Zones in 73 counties, and the Ohio Development Services Agency is working to help local communities make the most of the opportunities.
From Urban Institute: From the start, Cleveland city officials saw Opportunity Zones as a chance to leverage federal dollars to elevate preexisting city plans. Through the mayor’s Neighborhood Transformation Initiative, announced in 2017, Cleveland had already been encouraging private investment in four underresourced neighborhoods—Circle North, East 79th Street, Buckeye-Woodhill, and Clark-Metro—that are next to areas of growth.
From Fresh Water Cleveland: For the last two decades, Cleveland’s Fairfax neighborhood has been master planning for a renaissance—and now its golden age is in sight. With an ideal location on the $331 million Opportunity Corridor and an array of developments and initiatives coming to fruition, the area is preparing to round the bend on a four-pronged Strategic Investment Plan that began in 2008.
From Crain’s Cleveland Business It was considerably easier to raise funds for the project with the Opportunity Zone," Smythe said. "It's a strong incentive for the investors and a great way to promote economic development in economically distressed areas."
Under the Opportunity Zone program, investors with capital gains may shelter them from federal taxes by investing in a property or business in a designated Opportunity Zone area.
From Crain’s Cleveland Business “Its principals hope the $23 Million project will create a natural gateway into Tremont.”
From Cleveland.com “The Greater Cleveland Partnership announced Monday it will create a $50 million real-estate investment fund intended to spur private investment in economically distressed parts of Cuyahoga County.”