Clarification: Tax Overhaul-Development Zones story

By iNFOTEL
October 23 2018 11:47 AM

CP2118649977 — In this April 26, 2018, photo vehicles drive along Fish House Road near elevated train tracks at a draw bridge in a so-called ‚Äúopportunity zone‚Äù in Kearny, N.J. The Trump administration on Friday, Oct. 19, proposed rules for investors in a new program that it says could have a big impact on economically depressed areas around the country. About 8,700 of the "opportunity zones" have been set up in all 50 states and to lure investors and developers with tax breaks. (AP Photo/Julio Cortez)

WASHINGTON – In a story Oct. 19, The Associated Press reported that Brett Theodos, principal research associate at the Urban Institute, estimates that only about 10 to 15 per cent of the opportunity zones under the 2017 tax law will attract investment, and that around 10 per cent could get 90 per cent of the money invested.

Theodos offered those percentages as hypothetical numbers, not exact numbers based on data or study.

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