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JUE Insight: The Impacts of Opportunity Zones on Zone Residents

Matthew Freedman, Shantanu Khanna () and David Neumark

Journal of Urban Economics, 2023, vol. 133, issue C

Abstract: The Opportunity Zone program, created by the Tax Cuts and Jobs Act in 2017, was designed to encourage investment in distressed communities across the U.S. We examine the early impacts (up to one-and-a-half years after enactment) of the Opportunity Zone program on residents of targeted areas. We leverage restricted-access microdata from the American Community Survey and employ a matching approach to estimate causal effects of Opportunity Zone designation. Our results point to little or no evidence of positive effects of the Opportunity Zone program on the employment, earnings, or poverty of zone residents.

Keywords: Opportunity Zones; Place-Based Policies; Tax Incentives; Employment; Poverty (search for similar items in EconPapers)
JEL-codes: H25 J23 J38 R12 R38 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:juecon:v:133:y:2023:i:c:s0094119021000899

DOI: 10.1016/j.jue.2021.103407

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