President Trump has issued an order that directs federal agencies to move into “opportunity zones” in order to spur investment in the nation’s poorest communities.
According to The New York Post:
WASHINGTON — President Trump on Monday will order federal agencies to prioritize moving their offices to Opportunity Zones to spur investment in some of the nation’s poorest neighborhoods, The Post has learned.
The move will apply to all federal agencies and asks that they stop prioritizing city centers and central business districts and instead base themselves in any of the 8,769 low-income communities designated as Opportunity Zones by the Trump administration.
The initiative has driven more than $75 billion in private investment into disadvantaged communities in the two years since it was created, according to a report released earlier Monday by the White House Council of Economic Advisers.
A senior White House official said the order would see immense federal resources poured into distressed communities and also drive down the high cost of locating government offices in expensive business districts.
Opportunity Zones encourage investment in port neighborhoods by giving tax incentives to people who invest there.