Shining a Light on Opportunity Zone Business & Investment Potential Everywhere!
By Chris Cooley
Co-Founder, OZworks Group
It’s been a busy — and exciting — time here as we have completed presentations on Opportunity Zones in Puerto Rico. (And you wouldn’t begrudge me a good time in a beautiful place, right?)
My partners and I discussed Opportunity Zones 101, in a webinar hosted by The National Puerto Rican Chamber of Commerce. It may come as a surprise, but the ENTIRE ISLAND is a federal Opportunity Zone. During the trip, we held our third event in Puerto Rico. The place is ripe and ready to do what Opportunity Zones do best – promote business growth and investment in economically distressed areas.
You know me, the first litmus test is social impact. What better way to help communities than to spur economic development to improve lives and opportunity for so many?
So What Did We Talk About? Opportunity Zone Business & Investment Potential
Opportunity Zones are designed to benefit businesses and investors, but the mission behind them is overwhelmingly powerful: to spark development and job creation where it’s needed most. We know the dollar is almighty, but we believe that investment in people, areas and resources bears the most fruit in the end.
We launched this OZworks Group online community portal in January of last year, and we quickly got over 270 members involved, including investors, real estate developers, service providers and businesses.
When we started OZworks Group, we had about 40 members, 12 of which were in the Puerto Rico Qualified Opportunity Zone. I started to wonder why that was. Soon it all became clear.
It’s just incredible to see the connectivity, the shared knowledge, the love and appreciation that I felt when I came down to the island and engaged with local businesses and investors from the mainland.
Great Things are Happening in the Puerto Rico Opportunity Zone
When I came back, I thought this must be what Silicon Valley felt like before it was Silicon Valley. There is a sense of camaraderie and community, and that is something that I am drawn to.
Investment and growth in Puerto Rico have already begun as a result of our OZ events. Here are some numbers to chew on:
- Over $17 million in economic stimulus in the last 14 months.
- $4.3 million in minimum committed investment.
- Over $1 million in tax savings for JUST ONE PARTICIPANT
I hope you are drawn to this, too, and that you “dig” into Opportunity Zones.
But It’s Not Just Puerto Rico! Opportunity Zones Can Be Found Almost Anywhere
We are inviting new members to join the OZworks Group online community for guidance and financial/legal assistance establishing Opportunity Zone Businesses and Opportunity Zone Funds.
Great potential abounds not only in Puerto Rico (but also in Opportunity Zones all across the U.S. and territories) for investment in OZs and to establish OZ businesses.
By joining our online community, you get (in a nutshell),
- A quick and comprehensive understanding of the OZ incentive.
- Education on how to apply the OZ incentive to scaling a business, raising capital, and building generational wealth.
- Facilitated, supportive relationships between a national network of OZ investors, business owners, entrepreneurs, and service providers in a private, online ecosystem.
You can also download this great OZPros “OZ Cheat Sheet” that I highlighted in our presentation.
Let’s build that winning strategy for investment and growth. Join our OZworks Group Community today to learn more!