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Opportunity Zones: Economic Growth, Wage Increases, and Community Benefits Explained by Tim Scott

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Sinopsis

Welcome back to Market Mondays! In this clip, we are thrilled to have Senator Tim Scott join hosts Troy Millings and Rashad Bilal. The discussion dives deep into the concept of Opportunity Zones—a term many have heard but few truly understand.**What You’ll Learn in This Video:**- **The Genesis of Opportunity Zones:** Senator Tim Scott shares his personal journey and the inspiration behind the creation of Opportunity Zones. Growing up in a single-parent household in North Charleston, South Carolina, he witnessed firsthand how living in the "wrong zip code" limited opportunities for many talented individuals. This personal experience fueled his drive to design a project that could bring essential resources back to underserved communities.- **How Opportunity Zones Work:** The video covers the basic framework of Opportunity Zones. Senator Scott explains how governors of various states designate low-income areas as Opportunity Zones and the kinds of tax incentives offered to investors. These incentives wer