On Thursday, October 10th co-founder Adam Koehler attended the Opportunity Zone Expo in Houston, Texas. This was exciting for the CPROP team for a few different reasons.
Let’s talk about it—
What is the 2019 Opportunity Zone Expo?
Per the Expo’s website, “The 2019 Opportunity Zone Expo Houston is a nationwide conference dedicated to Opportunity Zone stakeholders on October 10th, 2019. A myriad of educational panels, moderated by industry experts, helps professionals stay at the forefront of the booming Opportunity Zone industry.”
What’s an opportunity zone?
The Tax Cuts and Jobs Act of 2017 gets a lot of flack in public opinion for being strictly for the wealthiest citizens. But there is a hidden gem within the bill that isn’t talked about very often, one that investors world-wide need to know about.
Opportunity zones are an economic development tool—that is, they are designed to spur economic development and job creation in distressed communities by providing tax benefits to investors who invest “eligible capital” into designated communities.
If you want an in-depth definition,the United States IRS defines opportunity zones as, “Qualified Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in distressed communities throughout the country and U.S. possessions by providing tax benefits to investors who invest eligible capital into said communities. Taxpayers may defer tax on eligible capital gains by making an appropriate investment in a Qualified Opportunity Fund and meeting other requirements.” (More information can be found here: https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions#general)
For investors that means, “opportunities to invest in low-income areas and see a big return with an attractive tax-incentive to boot.”
As a co-founder of CPROP, Adam knows a thing or two about spotting opportunity zones. For context, Adam was born and raised in Price Hill, where the overall crime rate is 188% higher than the national average. Since then, Koehler has overcome the struggles of a low-income, low-opportunity area and has founded multiple multi-million dollar start-ups that have put the Cincinnati area on the investor-map.
He has also given back by reinvesting capital into the Cincinnat community whenever possible (a subject that he has remained passionate and committed to). Between speaking engagements he currently serves as a board member for ‘Adopt-a-Class’,a non-profit organization that has partnered with over 150 local-Cincinnati businesses to empower students by pairing classes with mentors who have the entrepreneurial drive and community care that can expose them to a wealth of life and career experience from a young age, and release their full potential.
CPROP is located in Covington, Kentucky, another opportunity zone.
Given this, there’s no surprise they called upon Adam in to speak on his expertise in identifying and capitalizing on good business opportunities.
Where is the team going next?
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—The CPROP Team
If you have any questions, we’d love to hear from you.
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