Behind the scenes at Goldman Sachs, thought-provoking insights are bubbling up each day. This space is for a few nuggets we think are worth sharing. From macroeconomics to the genome medicine revolution to the rise of digital gaming, these stories from around 200 West show you how top-level views can impact your life (and maybe even shape the way you think about money).
You probably don’t spend your days thinking about Opportunity Zones, but this podcast makes it clear why we should all be paying attention. In short: Opportunity Zones are low-income communities nominated by state governors and backed by the US Department of Treasury. The 2017 tax overhaul established the Opportunity Zone program and created tax incentives for investors to inject capital into these zones by financing new projects (think: real estate and other new businesses).
In a recent episode of Exchanges at Goldman Sachs, Margaret Anadu, head of Goldman Sachs Urban Investment Group, outlines the details of the program, how the tax incentives work and what it means for investors.
From Anadu’s perspective, “I think we’re having this really important national conversation today about income inequality and the haves and the have-nots, and there are views on all sides. But I think one thing we can all agree on is that everyone should have the opportunity to grow and succeed...And there's no way we’re going to change the situation in low-income communities and bring back all of that opportunity without the investment in private capital.”
You’ll need to listen to the full episode to understand the complexity of the program – and the broader issues at play – but for now, here are six figures that stood out.
Note: all figures below are taken from when this podcast was originally published on May 22, 2019.
This article is for informational purposes only and is not a substitute for individualized professional advice. Individuals should consult their own tax advisor for matters specific to their own taxes and nothing communicated to you herein should be considered tax advice. This article was prepared by and approved by Marcus by Goldman Sachs, but does not reflect the institutional opinions of Goldman Sachs Bank USA, Goldman Sachs Group, Inc. or any of their affiliates, subsidiaries or division. Goldman Sachs Bank USA does not provide any financial, economic, legal, accounting, tax or other recommendation in this article. Information and opinions expressed in this article are as of the date of this material only and subject to change without notice. Information contained in this article does not constitute the provision of investment advice by Goldman Sachs Bank USA or any its affiliates. Neither Goldman Sachs Bank USA nor any of its affiliates makes any representations or warranties, express or implied, as to the accuracy or completeness of the statements or any information contained in this document and any liability therefore is expressly disclaimed.
Join our Marcus social media community, where we share content and inspiration to help improve your financial health. See you there!