|HUD No. 20-019
February 7, 2020
OPPORTUNITY AND REVITALIZATION COUNCIL ISSUES REPORT TO PRESIDENT TRUMP
CHARLOTTE - During the North Carolina "Opportunity Now" Summit, U.S. Department of Housing and Urban Development Secretary Ben Carson issued a report to the President on behalf of the White House Opportunity and Revitalization Council ("Council"), of which Secretary Carson is the Chair. This report includes 180 action items that have already been undertaken by the Council within one year of its creation. Read the full report here (https://opportunityzones.hud.gov/sites/opportunityzones.hud.gov/files/documents/OZ_One_Year_Report.pdf).
The report provides updates on reforms that streamline existing regulations; actions that protect taxpayers by optimizing use of Federal resources; practices that stimulate economic opportunity and mobility; ideas that encourage entrepreneurship; pathways to expand quality educational opportunities; efforts to develop and rehabilitate quality housing stock; and recommendations to promote workforce development, safety, and the prevention of crime.
"When President Trump first took the oath of office, he vowed that our nation's forgotten men and women would be forgotten no more - and through his unprecedented support for economic opportunity initiatives, this is not just a promise made: it is a promise he has delivered," said Secretary Ben Carson.
"From day one, President Trump has been dedicated to helping our forgotten communities achieve their full potential and live the American dream. I want to thank Secretary Carson and Scott Turner for their continued work, represented in this report, to bring opportunity to every American," said Joe Grogan, Assistant to the President and Director of the Domestic Policy Council.
"This report is a manifestation of the incredible inter-agency collaboration embraced by the White House Opportunity and Revitalization Council," said Scott Turner, who serves as Executive Director of the Council. "Our team is unified and encouraged by what we have seen across the country, and we will continue to effectuate policies that help those individuals living in economically distressed communities, including Opportunity Zones."
"President Trump's remarkable leadership and vision have spurred unparalleled levels of growth and opportunity, and today further demonstrates his commitment to all Americans. We are thankful for the work being carried out by the White House Opportunity and Revitalization Council, which truly exemplifies the meaning of working together to lift all Americans-but especially those who need our help the most, "said Brooke Rollins, Assistant to the President and Director of the Office of American Innovation.
"The President has been very intentional about revitalizing the most distressed communities around the country. This report shows the President's continued commitment to progress and delivering opportunity now," said Ja'Ron Smith, Deputy Assistant to the President and Deputy Director of the Office of American Innovation.
The Council-comprised of 17 Federal agencies and Federal-State partnerships-is charged with identifying and disseminating best practices for utilizing the Opportunity Zones tax incentive and existing Federal resources to stimulate economic growth and revitalization, especially in America's distressed areas. This public sector commitment overlays the Opportunity Zones tax incentive (created through the Tax Cuts and Jobs Act), which itself encourages long-term private capital investment in economically distressed communities. Together, private capital and public investment will stimulate economic opportunity, encourage entrepreneurship, expand educational opportunities, develop and rehabilitate quality housing stock, promote workforce development, as well as promote safety and prevent crime in economically distressed communities. Learn more at www.OpportunityZones.gov.
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and https://espanol.hud.gov.
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