The new federal Opportunity Zone program benefits local businesses and municipalities alike, according to speakers at a recent workshop involving about 100 business owners, developers, public officials, investors and others who gathered to learn more about Opportunity Zone funds in Connecticut.

Hosted by the Greater Norwalk Chamber of Commerce, the workshop highlighted three census tracts designated as “opportunity zones” in Norwalk, according to an article published in The Hour, a news source for Southwest Connecticut.

The federal Opportunity Zone program offers incentives for investors and developers to spur economic growth in areas that need it the most. Liddy Karter, managing director of Enhanced Capital in Connecticut, was among the event’s speakers.

According to The Hour, Karter stressed a critical opportunity to drive positive development in distressed communities. Part of the 2017 Tax Cuts and Jobs Act, Opportunity ZonesOpportunity Zones target projects in low-income neighborhoods across the United States. “It’s really important we move capital into these zones,” KarterKarter said.

Karter also noted that, while the investment industry is traditionally competitive, the Opportunity Zone program is more collaborative, as different investors and different projects may offer a bigger collective impact, reshaping entire communities. “This is the first time we consider this a group effort,” Karter said, according to The Hour. “We’re trying to bring as many people to the table” as possible.

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