The Impacts of Opportunity Zones on Zone Residents

Matthew Freedman, Shantanu Khanna () and David Neumark

Working Papers from U.S. Census Bureau, Center for Economic Studies

Abstract: Created by the Tax Cuts and Jobs Act in 2017, the Opportunity Zone program was designed to encourage investment in distressed communities across the U.S. We examine the early impacts of the Opportunity Zone program on residents of targeted areas. We leverage restricted-access microdata from the American Community Survey and employ difference-in-differences and matching approaches to estimate causal reduced-form effects of the program. Our results point to modest, if any, 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)
Pages: 27 pages
Date: 2021-06
New Economics Papers: this item is included in nep-lma, nep-ltv and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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https://www2.census.gov/ces/wp/2021/CES-WP-21-12.pdf First version, 2021 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:cen:wpaper:21-12

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