News & Analysis as of

Economic Development

New Opportunity: Make Sure Your Communities Are Included

by Butler Snow LLP on

The 2017 Tax Cuts and Jobs Act, enacted December 22, 2017, offers a new tax incentive for the benefit of low-income communities with the creation of qualified opportunity zones. It is anticipated that the qualified...more

Nomination Portal for Opportunity Zone Designations Now Open

by Butler Snow LLP on

The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a new tool for community development which provides tax incentives to help unlock investor capital to fund businesses in underserved communities. Pursuant to...more

Global Innovation Centers in the Data-Driven Digital Economy

GICs offer advantages for exploiting big data and staying competitive. Data is the fuel of the 21st-century economy. Companies must manage and exploit data and digital technologies in an innovative, agile and cost...more

A Primer on the New Federal Qualified Opportunity Zone Provisions*

by Butler Snow LLP on

For many years, the Internal Revenue Code has provided various incentives aimed at encouraging economic development and investments in low-income and/or distressed communities by providing certain tax benefits to businesses...more

FY 2019 Administration Budget Request

by Holland & Knight LLP on

President Donald Trump on February 12, 2018, submitted his budget request to Congress for Fiscal Year (FY) 2019. The President's full budget calls for approximately $4.4 trillion in total spending. Much of the budget seeks...more

A Possible Formula for Puerto Rico's Hurricane Recovery: Distributed Renewable Energy

by Sullivan & Worcester on

In October 2017, Hurricane Maria swept through the Commonwealth of Puerto Rico decimating the island, taking hundreds of lives and demolishing infrastructure on an enormous scale. In the hurricane’s immediate aftermath,...more

What lies ahead for Africa in 2018?

by Hogan Lovells on

The beginning of each year undoubtedly brings great hopes for the future and a well-meaning commitment not to repeat the errors of the past. As we start February, our optimism still intact, I’d like to take a closer look at...more

China’s Greater Bay Area Puts Hong Kong In The Lead As Super Connector To The World

by Dorsey & Whitney LLP on

China’s open door policy is further opening up to welcome the world for business. The country is now building a landmark megalopolis on its southern coast with the name the “Greater Bay Area” (the “GBA”). ...more

Opportunity Zones: Tax Reform’s New Economic Development Tool

by Balch & Bingham LLP on

The Tax Cuts and Jobs Act (Pub. L. 115-97, referred to herein as the “Act”) provides new incentives for investing in certain low-income communities called “Opportunity Zones.” This briefing provides an overview of the new...more

States Must Act Now on Opportunity Zone Tax Incentives That Target Low-Income Communities

by Ballard Spahr LLP on

The IRS and the Community Development Financial Institutions Fund (CDFI Fund) simultaneously released guidance last week on the procedure for designating population census tracts as Qualified Opportunity Zones (QOZ)....more

Stopgap Spending Bill Ends Second Federal Government Shutdown in Less than a Month

by Cozen O'Connor on

A brief federal government shutdown ended Friday as the House and the Senate passed a Continuing Resolution (the “CR”) which provides a bipartisan budget bill that raises spending caps for two years and funds the federal...more

City of Columbus Announces New Policy for Tax Incentives

by Benesch on

On January 29, 2018, Columbus Mayor Andrew Ginther and City Council announced a new policy for tax incentives that would significantly change the way in which tax abatements and other incentives are structured in certain...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Coffee pod powerhouse Keurig Green Mountain is expanding its empire (and that of its parent JAB Holding Company) with the announcement of a $18.7 billion deal for the Dr Pepper Snapple Group. If approved by shareholders and...more

NC Legislative Update - January 2018

by Nexsen Pruet, PLLC on

JANUARY UPDATE - As directed in the adjournment resolution from October of last year, lawmakers gathered in Raleigh on January 10th, to gavel in for what became a one day-long session. The anticipated reason for their...more

JEDDs face new reporting rule promulgated by the Ohio Department of Taxation

by Bricker & Eckler LLP on

A new state rule requires joint economic development districts (JEDDs) to report and file certain information with the Ohio Tax Commissioner by February 12, 2018. Communities that have used JEDDs to support economic...more

2018 California Public Agency Laws – Part II - Housing and Land Use, Environment, Public Property/Public Works and Economic...

by Best Best & Krieger LLP on

The California Legislature was busy in 2017, which means plenty of laws passed in Sacramento that will impact public agencies. In this three-part series, Best Best & Krieger LLP gives a comprehensive summary of the new laws...more

2018 Georgia Legislative Session Preview

by Dentons on

After clearing the cobwebs from the General Assembly's levers of power, Georgia lawmakers arriving in Atlanta today will find no shortage of thorny propositions awaiting them: budget priorities, rural development and...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

An overview of last Friday’s jobs report, which saw the US adding fewer jobs than expected but also tracked a welcomed increase in wages for the least-educated workers....more

Rural Development Council Works to Keep Georgia On Your Mind

When singers croon about the old yellow moonlight spilling through the pines of the Georgia woods, the “Georgia rain on the Jasper County clay” and taking the “midnight train to Georgia,” they evoke nostalgia for the state’s...more

Draft regulations laying down major rules of the new investment support system in Poland already known

by Dentons on

The Government Legislation Center published on its website draft regulations on the introduction of a new system of investment support in Poland, including a key regulation on state aid to business. Among other things, the...more

Continuing Resolution extends EB-5 Program until January 2018

by Cozen O'Connor on

As expected, the House and the Senate passed a Continuing Resolution (the “CR”) last week which extended the Federal budget until January 19, 2018. It is expected that the President will sign the CR. This new short-term...more

EB-5 Immigrant Investor Program Expires in 5-Days. Will EB-5 be Reauthorized?

Washington’s divisive political climate has led to many uncertainties in the future of the EB-5 Immigrant Investor Visa Program. Last week, the House and Senate passed a continuing resolution that prevented a government...more

Africa Legal News - December 2017

by Jones Day on

The Treachery of Images - Most people are familiar with the famous painting by René Magritte called "The Treachery of Images" (1928). The picture shows a pipe and below it the caption "This is not a pipe." In Africa,...more

Ohio Attorney General reports 78.3% compliance rate for 2016 economic development incentives

by Bricker & Eckler LLP on

Ohio Attorney General Mike DeWine recently released his 2017 Report to the General Assembly on Compliance with State Awards for Economic Development, which showed “an overall compliance rate of 78.3%,” according to a press...more

EB-5 Immigrant Investor Program: Following Extension, Next Decision Looms

by Polsinelli on

As part of the two-week spending bill that avoids a government shutdown, the Immigrant Investor Program known as EB-5 is extended unchanged through Dec. 22. Without much buzz on Capitol Hill to suggest the imminent release of...more

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