Opportunity Zones and Community Development in Philadelphia
Housing and Urban Development Secretary Scott Turner discusses the success of Opportunity Zones in economically distressed areas and the impact on communities in Philadelphia. He highlights the positive outcomes of private investment and economic development initiatives.
Key Points
- Success of Opportunity Zones in revitalizing neglected areas
- Focus on economic and community development
- Collaboration with private sector, faith-based programs, and nonprofits
Pros
- Private investment of $84 billion in the last five years
- One million people lifted off the poverty rolls
- Increased home values and Opportunity Zones
- Community development and economic growth
Cons
- Challenges with homelessness, crime, and drug addiction persist
- Need for continued public-private partnerships