A new federal tax break passed as part of the Trump administration’s 2017 tax cut has taken shape in Louisiana, with 150 census tracts across the state now designated as “opportunity zones.”
Investors, developers and redevelopment leaders are starting to reap the benefits from the program, which is designed to help low-income communities. Observers worry the program won’t help those poor areas as intended, and will instead accelerate gentrification or provide a tax break to projects that would have happened anyway.
Regardless, the program is moving forward in Louisiana, where downtown New Orleans and Baton Rouge are among the wide range of areas designated as Opportunity Zones. Here are some of the early investors who plan to use the new program: