ACTIVATING OPPORTUNITY ZONES
THE SEIZE OPPORTUNITY INITIATIVE
TPMA and its partners have developed a comprehensive strategy to transform distressed OZs. Our customized program will build healthy-viable communities, promote talent development amongst zone residents, attract sustainable investment and generate positive social impacts.
Thomas P. Miller recommends that opportunity zones form “cohorts” (20-50 OZs). Bundling resources, capacity, and projects will attract a steady flow of investment, leading to local wealth building, job and wage growth, and sustainable social impact.
The end result of Opportunity Zone investment should not be a successful financial transaction – this is a means to an end. The end result should be a healthier, vibrant, more resilient community. Land-use planners, social enterprise experts, and successful community practitioners will work with local leaders to better connect community investments to quantifiable resident and business well-being outcomes.
The TPMA Team will focus on talent attraction, retention, and development within the opportunity zones. Working with your talent ecosystem’s stakeholders, we plan on leveraging existing resources to enhance equitable economic outcomes. Partnering with local experts, government, and other key stakeholders, we will assist in scaling and reinforcing a robust talent pipeline. The goal will be to create and sustain a pipeline of talent that meets the demand of industry and attracts new economic opportunities based on the developed talent resource.
The investment must generate real opportunities for zone residents and businesses. The work produced in the Community and Talent modules will support a multi-faceted investment program for each OZ. This module will focus on business expansion and formation, commercial and housing development, infrastructure, and programmatic investments.
Each OZ will establish 5-10 year development goals, financing, and public-private partnership strategies. These opportunities will be conveyed to potential investors through a deliberate and compelling marketing strategy designed to attract a diverse capital stack to the community with an emphasis on OZ investment.
The TPMA Team has been actively involved with Opportunity Zone initiatives since the inception of the legislation in December 2017. Our Team has worked nationally, preparing prospectuses that are designed to generate investment deal flow and transformative development with measurable social impact. TPMA’s 30+years in the workforce and economic development business, working in 41 states have prepared it to partner with national experts, public and private sectors, and communities to leverage this significant new economic development tool.
“Some (Opportunity Zones) need technical support to assemble a complex financial package; many need capital for predevelopment costs; some simply need help connecting to investors. Rural areas and communities of color are often hard-pressed to find these relationships close at hand.”
Seattle Times “Creating Opportunities — and tax breaks — in the right Communities” November 10, 2019
TPMA understands the challenges small communities face when the economy is heavily dependent on a few industries or resources. If organized appropriately, these communities can leverage Opportunity Zones to accomplish economic and community development priorities but, the introduction of a significant new capital source to spur redevelopment initiatives presents an important tool and will require a recalibration of approach and programming to fully take advantage of the OZ incentive. Assessing this opportunity through a private sector investment lens and packaging a community prospectus will position communities to organize stakeholders, identify opportunities, and attract new investment. Doing so can help diversify communities economic base and hedge against recession risk.
Interested in Learning More About How We can Maximize Your Opportunity Zone, Let’s Talk!
“The Opportunity Zones Incentive requires the right kind of management, community engagement, partnership-building, and oversight to establish projects in OZs that are a boon to residents and local business people as well as investors.” Navigating the Opportunity Zones, Community Partners A LISC Playbook