In an initiative backed by Local Initiatives Support Corporation (LISC) and Fifth Third Foundation, Prosperity Indiana is proud to be a training and resource partner for the new Opportunity Investment Consortium.
With additional funding from the Vectren Foundation and Cinnaire, Prosperity Indiana will serve as the convener for the Consortium.
About the Consortium
The purpose of the Consortium is to encourage the transformation of Opportunity Zone neighborhoods into vibrant places profoundly attractive and sustainable for both residents and businesses. This is accomplished through a web-based portal which connects investment opportunities with investor member sponsors.
What are Opportunity Zones?
Opportunity Zones have been designated throughout the country in response to bi-partisan legislation included in the federal Tax Cuts and Jobs Act. The goal of the Opportunity Zones initiative is to encourage long-term private capital investment in low-income urban and rural communities. The program offers long-term tax deferral on capital gains for investments in designated census tracts and additional tax exclusion from new capital gains achieved from those Opportunity Zone Investments.