The new federal Opportunity Zones program created as part of the Tax Cuts and Jobs Act was meant to spur economic development and job creation in low-income areas.

But the head of a Chicago private equity real estate firm told the Morning Shift Monday that the program is more likely to help areas on the cusp of gentrification than it is to help low-income neighborhoods like Englewood, Austin or East Garfield Park.

In this interview, Morning Shift explores the history of opportunity zones, which have also been called “enterprise zones” or “empowerment zones” to assess what has worked, what hasn’t and what Chicago can learn from other cities. 

GUESTS: Timothy Weaver, professor of Urban Policy and Politics at the University at Albany, State University of New York

Lyneir Richardson, CEO of Chicago TREND, an economic development effort focused on underserved communities and Executive Director of The Center for Urban Entrepreneurship and Economic Development at Rutgers University

LEARN MORE: Chicago Investors Crowdfund $105 Million For Opportunity Zones (Crain’s Chicago Business 11/20/18)

How A New Tax Workaround Could Give South And West Sides A Boost (Crain’s Chicago Business 9/14/18)

The Problem With Opportunity Zones (CityLab 5/16/18)