GO-Biz Launches New Website on Opportunity Zones
May 27, 2021
This week the Governor’s Office of Business and Economic Development (GO-Biz) released an updated website for California’s Opportunity Zones. The new website brings together funding opportunities, resources, best practices, and tools to support economic and business development in the state’s 879 Opportunity Zones, spread across 57 counties.
Opportunity Zones are made up of census tracts that are economically distressed communities where new investments may, under certain conditions, be eligible for preferential federal tax treatment or preferential consideration for federal grants and programs. In California’s Opportunity Zones, the average poverty rate is 20 percent higher than the statewide average, and the median family income is half of the statewide average.