TOP 25 SPECIALIZED FIELDS
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ROBIN SCHABES
CHICAGOLAND OPPORTUNITY ZONES CONSORTIUM
Robin Schabes is the director of the Chicagoland Opportunity Zones Consortium , a collaboration of 30 organizations serving as the Chicago area ’ s centralized OZ voice . Schabes is responsible for coordinating the Consortium ’ s work , delivering on key responsibilities , and facilitating implementation of its action plan . Housed at the Chicago Community Loan Fund , the Consortium facilitates connections between developers , entrepreneurs , and OZ investors through matchmaking , education , and technical support . An experienced community development professional , Schabes has a bachelor ’ s degree from Northwestern University , a Master of Urban Planning and Policy from the University of Illinois , Chicago , and an M . S . in real estate from Roosevelt University .
WHY DO YOU THINK THE OPPORTUNITY ZONE INCENTIVE IS IMPORTANT FOR DISTRESSED AREAS ?
The Opportunity Zones tax incentive was designed to drive long-term equity investments to real estate projects and operating businesses in historically under-invested communities . Analyses from the Council of Economic Advisors and the Milken Institute , among others , show that it is the most significant federal incentive for community development created in decades . Unlike tax credit programs , the OZ tool is flexible . It is accessible for use in myriad real estate project and business types , small or large , and by individual investors to institutional funds . As a community development practitioner , I appreciate having another tool to facilitate investment in underresourced areas .
REID THOMAS
JTC AMERICAS
Reid Thomas is responsible for overseeing the day-to-day operations of JTC Americas . To this role he brings decades of leadership experience in both public and private companies , primarily in high-growth Silicon Valley technology companies . Thomas has been instrumental in the rapid growth of the company ' s EB-5 and Opportunity Zone businesses , working to develop the purpose-built software solutions and dedicated client services teams , which have propelled the company into leadership positions in both industries . He actively contributes to both the EB-5 and Opportunity Zone communities as a writer and as a speaker at events and conferences across the country .
WHY DO YOU THINK THE OPPORTUNITY ZONE INCENTIVE IS IMPORTANT FOR DISTRESSED AREAS ?
The Opportunity Zones initiative has been one of the most effective government anti-poverty programs ever , because it encourages investment where none might have taken place otherwise . Individuals with appreciated assets must choose whether to realize those gains and pay tax penalties or hold on to them . OZs encourage them to put that capital toward projects that employ workers , spurring the deployment of capital that would have remained dormant . This increase in investment capital stimulates the economy as a whole while revitalizing distressed communities because it ’ s being directed into areas that need it most , at little cost to taxpayers .
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