By Erika Morphy
For all the interest in and excitement around Opportunity Zones, an analysis by Reonomy has uncovered a surprising trend: commercial activity in Opportunity Zones is declining.
To be sure, activity in these low-income areas has been falling for years, which may not be surprising. But Reonomy also found that this slide has continued even after the tax bill introducing them was passed. In 2000, 15.59% of all commercial transaction activity was in what are now designated Opportunity Zones. In 2018, just 10.7% of all transactions were in Opportunity Zones. The trend is continuing this year with just 10.54% of all investments coming from Opportunity Zones, which is lower than any prior year, Reonomy says. Read more on GlobeSt.com. Subscription required.