Opportunity Zone Magazine is pleased to announce the Top 5 Opportunity Zone Professionals in Specialized Fields. The distinguished winners are active in the Opportunity Zone space by consulting about the benefits of Opportunity Zone investing or fund creation.
Geoff Davis
Sorenson Impact Center
As CEO of the Sorenson Impact Center, Geoff Davis leads the strategic direction and vision for one of the leading organizations in global impact. Davis has dedicated his life to championing social impact and equipping the next generation of social impact leaders. Over his distinguished career, he has founded, co-founded, or advised more than 25 startups and impact-oriented investment funds, as well as served on the boards of 14 companies. He earned a master’s degree from Harvard’s Kennedy School and a bachelor’s degree from Brigham Young University. He resides in Salt Lake City with his wife and three daughters.
Why do you think the Opportunity Zone incentive is important for distressed areas?
The OZ program is a promising early policy to help address one of the biggest needs in distressed communities - access to capital. The incentive helps fund projects such as affordable housing, downtown revitalization, and innovative businesses that might not otherwise come to fruition. With our own projects, like our Rural Opportunity Zone playbook, we have seen proactive communities connected with impact-focused investors meet important needs and even invite further investment that can change trajectories.
Susan Rounds
Deutsche Bank
In her current role, Susan Rounds often suggests Opportunity Zone strategies to clients as she works with them on matters of tax and estate planning. Many times, OZs provide a solution due to the tax benefits, but often the role of the OZ investment as an integral part of the family legacy is even more important. Rounds makes frequent presentations across the country and her articles have been featured in leading publications. She sits on the Editorial Board of Opportunity Zone Magazine and has been elected to the NAEPC Estate Planning Hall of Fame® – Class of ‘22. Professional designations include JD, CPA, LLM, TEP, AEP® (Distinguished) Nominee.
Why do you think the Opportunity Zone incentive is important for distressed areas?
The Opportunity Zone initiative shines a spotlight on underprivileged areas within our midst and demonstrates the truth in the adage that energy flows where attention goes. Savvy investors and real estate professionals know that the tax relief will translate to a ready financial benefit and this creates an immediate incentive to appraise the situation—to drill down and understand the circumstances leading to the current deflated condition in the area. When this happens, innovative solutions come to mind and strategies begin to take shape. In the end, the tax benefits serve as a reward for those who invest their time and money in the pursuit of transforming a community and improving the lives of those who live and work there.
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 under-resourced 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.
Jimmy Atkinson
OpportunityDB
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