Program agenda:
- Overview of the 2017 Tax Cuts and Jobs Act
- Year 2019 Recap and 2020 federal legislative outlook
- Creative ways that universities and anchor institutions can take advantage of the Opportunity Zone program
- What can States, regions and anchor institutions do to attract OZ fund managers and leverage OZ fund impact?
- Will OZ funds be a source financing for tech start-ups?
- Current deal structures and challenges
- Applications for real estate and business investment
“Qualified Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in distressed communities throughout the country by providing tax benefits to investors who invest eligible capital into these communities.”
– Internal Revenue Service
With over 8,700 qualified opportunity zones in the US — and many of those in close proximity to university campuses — there are countless prospects for universities to invest and partner with their local communities to encourage business growth and economic development while bolstering their research and commercialization ecosystem at the same time.
The Opportunity Zone legislation included in the 2017 Tax Cuts and Jobs Act provides compelling and powerful incentives designed to drive economic development. Educational institutions, given their long-term stability, are well positioned to take advantage of these incentives, bringing new projects, partners, jobs, and entrepreneurs that nurture the research and commercialization enterprise on and off campus.
Certain colleges and universities have the ability to become pioneers in “ozone” structures — attracting capital and partners to develop large-scale projects such as innovation districts, incubators/research parks, science centers, and other research-focused developments.
With that said, putting together legally compliant structures represents a sizable challenge.
Join John Balboni, co-head of Sullivan & Worcester LLP’s National Opportunity Zone Practice Group, and Brian Darmody, CEO of the Association of University Research Parks, as they share their practical and real-world experience, and help your university assess the benefits and challenges associated with Opportunity Zones touching upon various stakeholder perspectives.
