United States, Arizona, Scottsdale - 02/05/2020 (PRDistribution.com)
SCOTTSDALE, AZ., February 5, 2020 – Investors in Opportunity Zones were gratified to hear President Trump’s State of the Union address last evening in which he highlighted the success of the controversial segment of his tax cuts policy, saying, “Jobs and investment are pouring into 9,000 previously-neglected neighborhoods” thanks to the plan.
Dr. Jim White, PhD, a thought leader and expert in the field of Opportunity Zones, concurred. “As the president pointed out in his address, it’s true that many of the American communities suffering from population decline, poverty, unemployment, drugs, crime, and faulty infrastructure are being revitalized through an infusion of capital by individuals and companies.”
“The result, as the president said, is indeed exciting: the creation of jobs and quantifiable improvements in the lives of the residents through Opportunity Zones,” White said. “I thought it particularly poignant when President Trump introduced an army veteran, Tony Rankins, whose life has been dramatically improved by virtue of the fact that he found employment with a construction company which invests in Opportunity Zones.”
White is the bestselling author of What’s My Purpose? A Journey of Personal and Professional Growth and the soon-to-be released Opportunity Investing: How to Revitalize Urban and Rural Communities with Opportunity Funds, a heartfelt rallying cry for investment in Qualified Opportunity Zones (QOZ).
The book guides readers through the process of investment in Qualified Opportunity Zones and offers innovative ways to revitalize them.
“As the president said, we have a real chance to ‘help poor neighborhoods or areas that have not seen investment in many decades,’” White said. “By applying Qualified Opportunity Funds (QOFs) we have a chance to work together to turn distressed communities around and make money through capital gains savings. These are deserving communities, and it is working.”
The bipartisan Opportunity Zones initiative was established by Congress in the Tax Cuts and Jobs Act (TCJA) of December 2017 as a breakthrough approach to spurring long-term private sector investments in low-income rural and urban communities nationwide. It offers a concrete path to bolster and revitalize distressed businesses and communities.
It’s a domino effect: when businesses in QOZs thrive, communities have more jobs with better salaries. More people will want to relocate to these areas, which will increase real estate values and breathe new life into local shops and stores. When residents and business owners are doing well, they spend more money on beautifying their homes, storefronts, public buildings, streets, parks, and monuments. Infrastructure improves, crime decreases, and better healthcare becomes available.
Spread out over many communities, QOFs can help the entire nation flourish.
“Investors have a triple win with QOFs. They can benefit from the capital gains tax breaks, make money, and positively impact low-income urban and rural QOZ communities and the lives of millions of people,” White said.
“To fully achieve the American Dream, we must all work together to spark economic growth and improve conditions in less fortunate urban and rural communities. Opportunity Investing breaks down political barriers and explains in simple terms how it is possible to incentivize investors to connect their hearts and minds and direct their financial resources into areas that are in dire need,” he added.
Opportunity Investing: How to Revitalize Urban and Rural Communities with Opportunity Funds releases March 31, 2020 in hardcover and e-book. ADVANCE REVIEW COPIES AVAILABLE UPON REQUEST.
JIM WHITE, PHD is Chairman and CEO of Post Harvest Technologies, Inc. and Growers Ice Company, Inc., Founder and CEO of PHT Opportunity Fund, LLC, and Founder and President of JL White International, LLC. Jim is the bestselling author of What’s My Purpose? A Journey of Personal and Professional Growth, which has been lauded by such industry leaders as Steven M.R. Covey and Jack Canfield. Dr. White holds a B.S. in civil engineering, an MBA, and a doctorate in psychology and organizational behavior. Jim acquires struggling businesses to revive and develop them into profitable enterprises using his business turnaround strategy. To date, Jim has generated more than $1.8 billion in revenue.